Is that the OLED display adds a ton of cost, and while it is nice I'm pretty sure if I was buying today I'd go for the XR over the XS or Max because it isn't $250-$350 nice!
Apple probably doesn't mind the stock drop though - they still have $150 billion in stock buybacks planned over the next few years so having the stock fall by 25% means the buybacks are a better deal. I think if Apple's numbers aren't as bad analysts seem to think they will be, it will turn out Apple spent a lot more on buybacks this quarter than they have the last couple when the stock price was riding high. Gotta take advantage of those downturns and get more bang for your buck!
Plus it isn't just Apple, all the FAANG stocks have taken a big drop lately. They all went up too much too fast, and were overdue for a correction.