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Rufai Oladimeji
Lagos State University
English
100Level, Nigeria.
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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 my 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.

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.

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.

www.naijatechguy.com/2019/01/apple-loses-57-billion-dollars.html
Apple Loses $57 Billion , Drops To 4th Most Valuable Company In The World  - Business Discussion

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