Shares of Apple dropped more than 2.5 percent Thursday after the tech giant said it would not disclose first weekend pre-order numbers for the iPhone 7.
The stock was on track for its worst trading day since June 24, the day after the United Kingdom voted to leave the European Union, when it fell 2.81 percent.
In a statement to CNBC, Apple said: "These initial sales will be governed by supply, not demand, and we have decided that it is no longer a representative metric for our investors and our customers."
Apple unveiled the iPhone 7 on Wednesday. The new phone will hit stores Sept. 16.
"The numbers should be strong, why hide it," Colin Gillis, an analyst at BGC Partners, told CNBC in an email. "Supply constrained? This phone should be the easiest ever to roll out – it's basically the third generation."
"Next year I can understand build concerns. The only reason other than concern on consumer demand for iPhone 7 is they might be concerned about setting a difficult compare for the 2017 10th anniversary iPhone," he said.
The tech giant's stock was among the most traded as of Thursday afternoon, with a cumulative volume of more than 52.6 million.
AAPL intradaySource: FactSet