“Apple Inc. fell for a third straight day amid concern that demand is waning for the iPhone, its bestselling product, shaving about $40 billion from the company’s market capitalization so far this year,” Selina Wang reports for Bloomberg.
“Shares of the world’s most valuable company fell below $100 for the first time since October 2014,” Wang reports. “They were trading at $98.20 at 9:34 a.m. in New York Thursday. The stock has lost more than 4 percent so far in 2016 after declining 4.6 percent in 2015.”
“Concern was fanned again this week after Japan’s Nikkei Asian Review reported that the U.S. company would reduce the output of its latest iPhones by about 30 percent in the first quarter, a number that surprised many analysts,” Wang reports. “Apple predicted in October that it would have another record holiday quarter.”
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MacDailyNews Take: The charade continues.
Let’s repeat that history lesson, since history repeats:
• Apple manipulated by Wall Street Journal before earnings? – January 22, 2013
• 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, 2013SEE ALSO:
Apple stock price tumbles 3% in premarket, now trades well below $100 – January 7, 2016
Apple stock slumps near $100 amid ‘iPhone sales worries’ – January 6, 2016
Wall Street’s freak out over declining iPhone sales is overblown – January 6, 2016
Piper Jaffray: Apple’s iPhone production cut do not necessarily presage sales decline – January 6, 2016
Foxconn plans ‘rare’ holiday as iPhone output fears rattle investors – January 6, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016
