A man uses his mobile phone as he walks past advertising for the new iPhones outside the Apple store in Hong Kong on October 10, 2019.

Apple shares dropped late during the trading day on Wednesday after the Nikkei Asian Review reported that the company considered delaying its annual iPhone launch by months.

Apple closed at $245.52, down .55% after it was positive for most of the day during a stock market rally. It hit a high of $257.89 during intraday trading.

Apple has launched new iPhones in September or October every year since 2011. In most years, a successful launch of the new devices, which account for over half of Apple's revenue, is critical for the company.

Nikkei reports that Apple is considering a delay to its iPhone launch by "months" because of issues related to consumer demand during the COVID-19 coronavirus crisis and aftermath. In addition, Nikkei reports that Apple's new iPhone will support 5G networks, and that has raised the pressure at Apple for the device to be a hit.