Shares started trading above $166, less than a percent higher than Friday's close of $165.72. By mid-day, shares were about flat, after yet yet another report questioned whether the high-end iPhone X was competing well with other models.
Apple doesn't usually release sales by model, and won't report quarterly results until May 1. But CIRP's Monday report indicated that while new models (the iPhone 8, iPhone 8 Plus, and iPhone X) accounted for about 60 percent of iPhone sales, the iPhone X only snagged about 16 percent, which would be a sequential decline.
An opening price below $169 still marks a year-to-date decline for Apple. Apple is down roughly 2 percent on the year but more than 16 percent up in the 12-month period.