Sonos stock falls after report highlights removal of its smart speakers from Apple stores

Shares of Sonos Inc. SONO, 1.55% are off 5% in Tuesday trading after a Bloomberg report highlighted that Apple Inc. AAPL, 1.33% is no longer selling the company’s speakers in its stores. Apple launched its own HomePod speaker in 2018 but the Bloomberg report noted that Apple was still selling Sonos’ One SL speaker until recently. Apple has also stopped selling headphones and speakers from Bose and speakers from a Logitech International SA LOGI, 1.07% brand, according to the report. Logitech shares are off about 6% in Tuesday’s session. Apple is reportedly working on a smaller HomePod speaker and over-the-ear headphones that would be under its own brand. Shares of Apple are off 2.3%% in Tuesday trading, though they’ve risen 22% over the past three months as the Dow Jones Industrial Average DJIA, 1.24% has increased 7%.

This article was originally posted by MarketWatch.