Apple’s Stocks Plummeted YesterdayDamien Moye
So 2018 was a so-so year for Apple. But 2019 seems to be off to a catastrophic start for the once trillion dollar company. I say this because Apple’s stocks plummeted yesterday.
Not only did their stocks tank, but they sent the whole Dow Jones stock market tanking. Their stocks went from $157 to $142 a share yesterday. But the whole Dow Jones lost over 660 points, mostly because of Apple. In one day, Apple investors lost around $75 billion. Apple reported they expect to miss earnings by billions of dollars yesterday. So naturally, investors don’t like that news. But why do they expect this kind of loss?
Because Apple sales in China are collapsing. Economists say there are several reasons for this. They include a weakening Chinese economy, and a nationalist movement going on in China. This movement has a lot of people abandoning Apple and other American companies. Also, they’re buying more local, Chinese products. This includes smartphones. There are more China based smartphone companies as well, so they’re more local businesses their citizens can choose from. New iPhone sales also declined in nations like Brazil, India, Russia, even here in the US. All of these nations are critical for Apple’s success in sales.
As of today, January 4, 2019, Apple stocks are making a comeback. But it’s still early. That could change. Apple’s stocks plummeted yesterday, but these problems go way longer. In fact, Apple stocks dwindled over 35% in just the last 100 days. Other stocks haven’t been doing so well, either. The stock market had their worst December since the Great Depression era. Then you have competition from other markets. Many of our computer repair customers love Apple. However, many other computer repair customers love to hate Apple. There is no middle ground there. Does Apple need to work on their consumer relations, around the world, to get people back in their good graces?