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Apple was worth more than $1 trillion at the start of the month, it’s now valued at $880 billion

Tuesday November 20, 2018. 06:35 PM , from Mac Daily News
“Apple was worth more than $1 trillion at the start of November,” Matt Phillips writes for The New York Times. “Now, it’s valued at $880 billion.”
“The mighty tech titans and their seemingly endless pipeline of profits, which powered one of the longest bull markets in stocks, are looking a little less invincible,” Phillips writes. “Shares of Apple and Google’s parent company, Alphabet, are down more than 10 percent since the market peaked, while Facebook and Amazon have dropped more than 20 percent.”
“Investors’ faith has been eroded by slowing growth and a trade war with China, as well as a steady stream of revelations about privacy lapses, security issues and mismanagement,” Phillips writes. “When the stock market hit its peak in September, technology had led the way, accounting for 50 percent of the gains for the year… Not anymore. Through Friday, roughly a quarter of the market’s decline since September was because of Amazon, Apple, Facebook and Alphabet, according to data collected by S&P Capital IQ. The sharp sell-off on Monday will only add to that tally.”
“The specter of regulation is looming over the shares of Facebook, as it deals with the fallout and costs from a data breach, privacy lapses and management missteps,” Phillips writes. “Alphabet likewise faces a regulatory crack down on business practices in Europe, and concern from elected officials in the United States about political bias… Soft demand for Apple’s new phones has hurt its shares and those of its suppliers.”
MacDailyNews Take: There is no proof that demand is soft for Apple’s new iPhones. Just some specious conjecture. The New York Times errs in reporting “Soft demand for Apple’s new phones” as fact.
“Since Apple’s share price peaked at just over $232 on Oct. 3, the stock has plummeted by nearly 20 percent, lopping more than $200 billion off the company’s market value,” Phillips writes. “Its shares were down nearly 4 percent Monday.”
Read more in the full article here.
MacDailyNews Take: Those were some expensive unit sales figures.
SEE ALSO:
Apple is having its worst month since the financial crisis, but the long-term trend appears intact – November 20, 2018
Apple analysts have a long history of misreading weak iPhone demand based on supplier rumors – November 19, 2018
Poor news curation at Bloomberg, CNBC, Reuters created misleading iPhone supply chain panic – November 19, 2018
WSJ: Apple slashes production orders for all three new iPhone models – November 19, 2018
Misreading Apple’s supply chain and iPhone XR demand – November 15, 2018
Apple: Ignore the noise – November 14, 2018
Dialog Semi says not seeing hit to demand from Apple – November 14, 2018
Don’t panic about iPhone sales just yet – November 14, 2018
Apple stock: This is not a repeat of 2015-16 – November 14, 2018
iPhone XR production cuts not due to soft demand – analyst – November 10, 2018
Apple’s Asian suppliers fall on report of canceled iPhone XR production boost – November 6, 2018
Nikkei claims iPhone XR production cuts, Apple stock drops over 3% – November 5, 2018
Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
Apple beats Street with best Q2 ever – May 1, 2018
Apple’s iPhone X isn’t selling well – or is it? – April 21, 2018
Apple’s iPhone X to be discontinued this year, analyst claims – April 20, 2018
Morgan Stanley: Apple stock may fall on ‘materially’ weaker iPhone sales – April 20, 2018
Apple’s iPhone X made 5 times the profit of 600 Android OEMs combined – April 18, 2018
Apple’s iPhone captured 86% of global handset profits in Q417; iPhone X alone took 35% of global handset profits – April 17, 2018
Bernstein: Ams AG is biggest winner in Apple’s TrueDepth Camera system – April 10, 2018
Apple’s iPhone X is the UK’s most popular smartphone – April 9, 2018
Apple’s iPhone X sales continue to disappoint, some analysts say – March 22, 2018
Ignore the iPhone X naysayers – March 10, 2018
Will the naysayers admit they were wrong about Apple’s iPhone X? – February 5, 2018
Do iPhone X sales spell trouble for Apple? – January 30, 2018
Apple supplier says report of iPhone X production cuts was overstated – January 30, 2018
Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
Apple stock drops after Nikkei report of iPhone X production cut – January 29, 2018
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017
Nikkei: Apple to decrease iPhone production 10% in first quarter of 2017 – December 30, 2016
Nikkei proclaims ‘iPhone 7’ Dead On Arrival; bemoans Apple’s ‘lack of innovation’ – May 12, 2016
Japan’s Nikkei, The Wall Street Journal blow it, get iPhone demand story all wrong – January 16, 2013
Did Apple reduce 4-inch Retina display orders due to improving yields? – January 15, 2013
Analysts: iPhone 5 demand ‘robust;’ ignore the non-news noise – January 15, 2013
Apple iPhone suppliers decline on report orders cut by 50% – January 15, 2013
Apple swoon erases $17 billion from stock market – January 14, 2013
Apple iPhone 5 production cut signaling a new product release? – January 14, 2013
Apple drops to 11-month low on old reports of component cuts – January 14, 2013
The strange math of Apple’s alleged massive iPhone 5 component cuts – January 14, 2013
UBS analysts: Apple iPhone component order reduction ‘old news’ – January 14, 2013
Apple pulls down U.S. futures – January 14, 2013
Apple shares drop below $500 after reported cuts in iPhone 5 parts orders – January 14, 2013
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