Multiple factors have negatively impacted Apple’s stock over the last week, now culminating in a stiff blow to their image: Apple has fallen below its former trillion dollar worth. Granted, the company is still worth multiple hundreds of billions of dollars, but it’s an unfortunate slip nonetheless.
One of the most recent blows to Apple’s stock came when a Japanese business publication, Nikkei Asian Review, announced that Japanese demand for the new iPhone XR was far lower than initially predicted. As a result of this, Apple has halted the production of that model of iPhone in the Asian territories, which has affected the collective stock of the tech sector in that area. Apple also announced a change to their business conduct in that they would no longer publicly announce how many devices it sells each quarter. The justification for this is that the service Apple sells is more indicative of its sales, but some investors are unhappy about a perceived lack of transparency on the company’s front. All of these factors together have resulted in the worst financial 2-day stretch for Apple in recent memory.
Still, with the holiday season coming and multiple new devices under their belt, Apple has ample opportunity to redeem itself, so long as sales in one part of the world can make up for sales lost in another.