“As investors fret about a plunge in Apple Inc., the losses in Samsung Electronics Co. are even deeper,” Kyoungwha Kim reports for Bloomberg.
“Samsung has tumbled 16 percent this year as weakening demand for the company’s Galaxy smartphones spurred a fifth straight profit decline in the second quarter,” Kim reports. “The stock — Korea’s largest by market value — has lost $60 billion since this year’s peak and dropped a further 3.8 percent on Thursday.”
“Sluggish demand for the company’s high-end Galaxy 6 prompted it to cut prices just four months after the device’s debut, while Chinese rivals eat away at its cheaper models,” Kim reports. “Apple, the biggest stock in the world, has fallen more than 10 percent from its February high… Even after the decline, Apple shares are the highest relative to those of its Korean rival by the most in two decades.”
Read more in the full article here.
MacDailyNews Take: And Samsung’s plunge is actually even warranted. Imagine that!
SEE ALSO:
Morgan Stanley: This is your chance to buy shares of Apple at a discount – August 6, 2015
Apple stock implosion shreds $113.4 billion and counting – August 4, 2015
Apple poised for $50 billion valuation loss after posting ‘disappointing’ record earnings – July 21, 2015
Apple shares plunge after ‘disappointing’ record third quarter results – July 21, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015Beleaguered Samsung’s days in the sun are over in smartphone market – August 4, 2015
Samsung drops $10 billion in market value on poor demand for Galaxy S6 phones – July 31, 2015
Samsung will never overcome Apple’s advantage in mobile device profitability – July 30, 2015
Apple iPhone shipments show impressive growth as Samsung falls – July 30, 2015
Samsung offers downbeat outlook for year ahead of new Apple iPhones – July 30, 2015
Apple’s indomitable iPhone 6/Plus sales unfazed by Samsung’s anemic Galaxy S6/Edge – June 2, 2015
iPhone 6, killer: Beleaguered Samsung’s Galaxy S6 sales are a total disaster – May 22, 2015
Beleaguered Samsung reports 30 percent decline in operating profit – April 28, 2015
Samsung Galaxy S6 phones suffer weaker than expected sales in South Korea homeland – April 22, 2015
15 percent of Samsung Electronics execs quit amid profit slump – April 2, 2015
Significant Android to iPhone switching weakens market for Samsung Galaxy S6 – March 24, 2015
Apple iPhone takes smartphone market share from Android around the world – March 4, 2015
Poor man’s iPhone: Android on the decline – February 26, 2015
Why is APPLE have to be compared to Scandung Samdang Samshit?
Agreed. Samsung is a POS low life scumbag of the earth. Please comparing them to Apple is way off base.
Hey! The *ding*down* dimwits are back!
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For
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What MDN said!
Samdung trolls are loose. You’d think the paid trolls would be the first ones fired as samdung sinks.
There is no comparison for the two. Apple is making record profits. Samsung is losing money. Apple stock should be up period. Samsung deserves the stock plunge. Apple stock is being miss treated as always for piss poor excuses and made up fairytales of things to come which are untrue. The market always twists record results with there own stupidity and as always there stupidity wins and they drop the stock.
b9bot . . . while I completely concur with the substance of your post, I must admit that I could barely read all the way through it without laughing. Please, PLEASE get an English language Grammar, Mechanics, and Usage manual and focus hard on homophones, confusing as they sometimes are: miss treated ≠ mistreated, which ≠ that, there ≠ their, et al.
Not all posters speak or write English as a first language.
I think that Samsung is still profitable, overall. Some of its divisions may be losing money, but others are making enough to compensate plus some, the last time that I checked.
I am not saying that the pricing of AAPL is “fair” relative to other stocks. The stock market is not nearly as rational as many analysts and economists would like everyone to believe. You can chart P/E multiples and PEG ratios and 200-day moving averages and such as much as you like, but some FUD monger/manipulator can render that work meaningless with a well-placed, unsubstantiated rumor.
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