Apple’s stocks shaves off over $100 billion, which is 20 percent more than anticipated during at the start of Q4 2018.
Apple has reported shipments for iPhones below their expected margin which resulted in almost losses, and in addition, will stop reporting individual unit sales and revenue figures for the iPhone.
Other Phone makers meanwhile have been catching up in popularity pretty quick, such as Huawei’s Mate 20.
An obvious cause for Apple’s recent losses could be due to how they downplay their phones, and how they intentionally slow down their devices.
An example of this is how Apple pushes out software updates for older devices which could render the iPhone useless in almost every case.
This led to a lawsuit costing Apple €10 million in the Italian court last October 2018.
In combination with light holidays sales and low shipments, weak iPhone demands have also made suppliers cut off revenue forecasts due to the reduced orders.
Due to these supply chain rumors, investors have begun to express a negative attitude towards Apple, and so added up to drop stocks to an all-time low for Apple.
It’s possible for Apple to recover with sales of their other hardware, such as the AppleWatch, AirPods, and Homepod, but not even Chief Executive Officer Tim Cook is counting on them, as iPhone has been making the majority of their sales since 2008.