Apple Loses $57 Billion, Drops To 4th Most Valuable Company In The World

Apple just lost $57 billion in the stock market and dropped to the fourth most valuable company. I actually saw this coming and i didn’t think it would come so soon. Have a look at this post Facebook on December 15th, 2018.

Apple’s Falling Stocks

Their products are simply over priced, It costs basically around $300 to build an iPhone and they sell it at above $1000 while there are phones with better features that cost less. I bet Steve Jobs (God bless his soul) wouldn’t allow this unacceptable overpricing.

Apple stock initially opened on Thursday at $144 which was around a $14 drop from its already plummeting price when the markets closed on Wednesday.

Now, their stock is at its lowest price in almost 2 years . The current stock price pushes the Cupertino Company down to the fourth most valuable company behind Microsoft, Amazon and Google.

Their current market value now sits at about $57 billion less than it did before CEO Tim Cook’s letter to investors yesterday.

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Tim cook had placed the blame for Their lowered projections on a number of factors such as fewer than expected iPhone sales, trade wars with China, and even its own iPhone battery replacement program.

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However, since becoming the first trillion dollar company last year, they have continuously experienced a continuous slide downward in market value.

The company has lost around $450 billion since hitting its peak of $1.1 trillion leaving it with around $600b.

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