Well in case you don’t know, Apple just lost $57 billion in the stock market and has dropped to fourth most valuable company.so now you know, This happen do to the trade war between China and USA
Apple’s stocks falling
The company products are simply on the high side,it costs basically around $300 to build an iPhone but at the end, the company sell the same iPhone that cost $300 at the price of $1000 where as there phones with better features that cost lesser.i really bet that Steve jobs ( God bless his soul) wouldn’t have allow this unacceptable overpricing.
Apple stock opened on Thursday at $144 which was around 14 drop from its already plummeting price when the markets closed on WednesdayRight now the company stock is at it’s lowest price in almost 2years. The current stock price has pushed the top company now down to fourth most valuable company behind Microsoft, Amazon and Google.
Their current market value now site at about $57 billion less then it did before CEO Tim Cook’s letter to investors yesterday.
The CEO had placed blame for the company downfall on factors such as fewer than expected iPhone sales,trade war between the USA and China, and it’s own iPhone battery replacement program.
In addition,since the company become the first trillion dollars company last year,they have continuously experienced a continuous slide downward in market value.
Apple has lost around $450 billion since hitting its peak of $1.1 trillion last year, now leaving it with around $600billion.