Apple is no longer a trillion dollar company
Apple’s value has fallen by more than $220 billion over the past few weeks. While some of the problems are unique to Apple, other technology giants have also taken a beating, including Facebook, Amazon, Netflix and Google.
In this sudden downfall, we all know about the culprit. iPhones touched a whooping price this year and due to that the sales were unexpected. Hence the tag of being first TRILLION dollar company is a matter of history for now.
As per the latest stock details from Nasdaq while writing this article, Apple’s share was costing $172.29. And on 10th October the share was costing around $232.
Less than four months ago Apple shares were flying high in early august, Apple shares topped $207/ share and thus made Apple the first trillion-dollar company in history
Even if we consider data from last 5 days as per reports available from NASDAQ. Apple’s shares are facing a free fall and seems like is time to worry. Reports say that iPhone XR sales are below expectations and few days back iPHONE Xs sales were also reported to be not as expected as far as Indian market is concerned. Sales of iPhone in Asian market is also tumbling since last three years, US is somewhere apple generates maximum profit from.
No longer the most valueable tech company on the planet, Apple’s market cap currently checks in at $746 billion. If we put a light on microsoft’s market cap at the close of trading by the time of writing this article was $791 billion. And it won’t be a surprise if apple’s market cap value gets lower than AMAZON and GOOGLE if shares keep falling at this pace.
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