Even after its 27% drop last year, Apple has provided stellar returns to long-term shareholders. – AFPpic: Apple Inc'’s stock market value shrank sharply on Tuesday following its steep drop last year, leaving it below US$2 trillion for the first time since March 2021.
Also exacerbating investors’ worries that a slowing global economy and high inflation may be hurting demand for Apple devices,reported, citing unnamed suppliers, that Apple has told suppliers to manufacture fewer parts for its ear buds, watches and laptops. With investors worried about consumer demand, analysts on average expect the Cupertino, California company to report a 1% drop in December-quarter revenue in the coming weeks, according to Refinitiv. That would mark Apple’s first quarterly revenue decline since the March quarter of 2019.
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