Apple’s share price fell during Thursday’s trading to approximately $181.47, compared to more than $194 during the same period last week.
Thus, the company’s stock lost about 7% of its value, within a period not exceeding four business days, if we take into account the closure of the markets during the New Year holiday. Noting that the successive declines in the stock price, which occurred over the past four days, led to the stock price deteriorating to its lowest levels in more than eight weeks.
As a result of these declines, the company lost approximately $47.4 billion of its market value during Thursday alone, that is, of the total value of its shares in the market. Since the beginning of this year, that is, in just three trading sessions, it has lost $176 billion of its market value, which is equivalent to 6.24% of its current market value.
Apple’s faltering start at the beginning of this year comes as a result of its market rating being downgraded twice since the beginning of the year, by both Barclays and Piper Sandler & Co. These reductions in the company’s rating came as a result of analysts’ concern about the fierce campaign launched by the Chinese government on foreign-made technological devices, led by “Apple,” in addition to modest expectations regarding the future demand for the “iPhone” device produced by the company, in light of the increasing competition imposed by it. Other international companies, including Huawei.
In addition to all these risks, analysts are more concerned about the increasing regulatory controls imposed or may be imposed by Western countries on the company’s applications, which will have a significant impact on the company’s income from these applications. Noting that Apple is the only major technology company that witnessed a contraction in its revenues over the past quarters without exception, while the percentage of analysts who are optimistic about the company’s future is at its lowest levels in three years.
2024-01-05 08:24:05
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