SAN FRANCISCO — Apple’s stock is backtracking from recent highs amid concerns that iPhone X sales will fall short of the high hopes for a device that brought facial recognition technology and a $1,000 price tag to the company’s flagship product line.

Speculation about disappointing demand for the iPhone X have been swirling for the past week, contributing to a 6 percent decline in Apple’s stock since it hit an all-time high of $180.10 on Jan. 18. The shares sank $3.11 to $168.40 in Monday’s late afternoon trading, translating into a nearly $60 billion loss in the company’s market value since the stock last peaked.

Concrete evidence of how the iPhone X is faring should emerge Thursday when Apple is to release its fiscal first-quarter earnings. The period spans October through December, covering the early November release of the iPhone X and the holiday shopping season that typically brings Apple’s biggest iPhone sales of the year.

J.P. Morgan analyst Narci Chang said that manufacturing of Apple’s flagship phone could be cut in half during the first three months of this year in reaction to weakening demand. But RBC Capital Markets analyst Amit Daryanani believes Apple’s reported iPhone sales during the past quarter will be higher than anticipated and the projections for the current quarter won’t be as lackluster as many people fear.

The iPhone X is unlike anything Apple has ever made in the product line’s 10-year history. It features an OLED screen that spans from one edge of the device to the other and displays images in vibrant colors. It also relies on technology that recognizes a user’s face to unlock the device and animate emoji’s.

Investors have been counting on the iPhone X to be a huge hit, despite its unprecedented starting price of $1,000.