Apple and Amazon Fall Backward In StocksDamien Moye
So remember when Apple and Amazon reached a trillion dollar status? It looks like those days are over, for now at least. Because Apple and Amazon fall backward in stocks.
So in the last several days, Apple and Amazon lost over $100 billion in stocks. For example, back on Sept. 4, Apple hit a record of over $228. But since then, they lost over 5%, or around $10 a share. That may not sound like much. However, this means Apple lost over $50 billion in less than a week. Then there is Amazon. Their stocks are in a four day losing streak. They lost around less than one percent of their stocks. Again that doesn’t sound like much. Nevertheless, to Amazon, that’s over $50 billion.
Why is this happening? Well, stocks are falling across the board and several reasons. The numbers overall aren’t that alarming, but this is Amazon and Apple. However, in order to explain their slide, maybe we should get into the overall stock’s slide. Insiders blame crises in Turkey and Argentina for the slide. Both their currencies are in decline. Also, keep in mind Turkey’s growing involvement with the Syrian war. Investors fear where this might head. Then there are trade wars with other nations from Canada to China, China being one of the biggest IT service countries in the world. This also has investors on edge.
Despite these reasons, investors really don’t have an answer why Apple and Amazon fall backward in stocks. However, I have some guesses about Apple. Every year around this time, they either announce or release a new smartphone device. People in our computer service shop ask this. This year, we heard nothing but speculations. We don’t even know what features they will have or how much they will cost. We can only hope not $1,000 or over that. Experts say some of their new phones will be lower. I hope so. Apple and Amazon fall backward in stocks?