People look at Apple products as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. REUTERS/Thomas Peterstock market value fell sharply on Tuesday following its steep drop last year, putting it on track to end below $2 trillion for the first time since June 2021.the first company to reach the $3 trillion market capitalization milestone.
Apple's shares fell 4% to $124.60 after Exane BNP Paribas analyst Jerome Ramel downgraded the company to "neutral" from "outperform," slashing his price target to $140 from $180, according to Refinitiv Eikon.for fiscal 2023 to 224 million units from 245 million units, reflecting supply chain issues from manufacturer Foxconn and consumers cutting back spending on high-end phones., currently valued at $1.78 trillion.
"They tend to skew to the high-end consumer device customer but even that demographic might be being affected by the high price of everything," Bokeh Capital Partners' Kim Forrest said. Last year's steep sell-off on Wall Street punished tech-related heavyweights as investors worried about rising interest rates dumped stocks with high valuations.
GTCost With all the animosity towards China, investors probably believe that Apple’s manufacturing base is at risk with negative consequences for the price of products.
Wow!
Apple, Amazon, Google, etcetera are all down, and one reason is people are buying LESS CHINESE MADE PRODUCRS and for multiplicitous reasons including waking up to the HUGE global threat they pose.
Out of date article.
It’s still overpriced and not done falling!
Now they ll launch another iPhone with old features but more expensive 😂
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