Apple market value falls below $1 trillion; Bloomberg blames ‘earnings flop’

“Apple Inc.’s disappointing earnings report sent the company’s market value tumbling below $1 trillion on Friday,” Jeran Wittenstein reports for Bloomberg News.

MacDailyNews Note: Fake news. In reality, Apple reported another record-breaking quarter on Friday.

“Shares of the world’s most valuable public company fell 7.1 percent on Friday after revealing stagnant iPhone sales and forecasting revenue for the holiday quarter that fell short of Wall Street expectations at the midpoint,” Wittenstein reports. “That decline, combined with a reduction in the number of shares outstanding after accounting for repurchases during Apple’s fiscal fourth quarter, erased nearly $90 billion in market value. The market capitalization was about $983 billion at 10:40 a.m. in New York trading.”

MacDailyNews Take: Apple’s earnings weren’t “disappointing” to analysts, Apple’s Q119 guidance and future reporting changes were.

Wittenstein reports, “Apple, which topped the $1 trillion mark on Aug. 2, had a market value of $1.073 trillion at the close of trading on Thursday, according to data compiled by Bloomberg.”

Read more in the full article here.

MacDailyNews Take: Excellent news (fake news in Bloomberg’s case) for Apple’s buyback program!

Investors bristle as Apple occludes iPhone unit sales data – November 2, 2018
Apple’s decision to stop reporting unit sales of iPhones, Macs, and iPads is a ‘defining moment’ – November 2, 2018
Apple to stop reporting iPhone, Mac, and iPad quarterly unit sales – November 1, 2018
Apple tumbles 7% after reporting record-breaking quarterly earnings – November 1, 2018
Apple beats Street with another record-breaking quarter – November 1, 2018


  1. “The company posted quarterly revenue of $62.9 billion, an increase of 20% from the year-ago quarter, and quarterly earnings per diluted share of $2.91, up 41%.”

    Can someone explain to me how Bloomberg’s idiot hack can claim these are “disappointing earnings”?

    Does Bloomberg not exercise any editorial oversight? Does Bloomberg think people can’t read? Does Bloomberg get to create its own facts?

    The fake news (mostly lies, really…) in regards to Apple over the last few years in the financial ‘media’ is positively off the chart…

  2. The so-called analysts want to see all of the data. Then determine (as analysts do) what they think about the company’s performance. Apple’s changing the game. Amazon for years has left items out of their reporting (Kindle, et al.) for just this very reason. The stock will do great going forward once analysts get over their hissy fit. No longer will they be able to peer into the iPhone sales (and from which region) etc., but simply have to live with the performance reported. For most general investors this will be a good thing. If you hear good news, you’re likely to think it’s a worthy stock to own and probably on the rise. A buying opportunity. Because Apple is so large, it’s also an external message to the world, no matter what happens Apple isn’t ever likely to ever go anywhere. The old days of whether the company will survive and/or thrive have long past. It’s moving toward viewing itself as the mature company that it is and sending that message to the world. Good move. If Warren Buffet isn’t worried, neither am I. Buy, buy, buy!

    1. The difference between Amazon reporting Kindle/device sales and Apple reporting iOS/Mac sales is the proportion to which those sales make on their respective bottom lines. I doubt device sales make up even as much as double digits for Amazon.

      What makes it worse is that services for Amazon are used on many platforms including iOS/Mac. The reverse is largely not true for Apple services which depend almost exclusively on consumption via Apple devices.

      It is no wonder why Wall Street is so much more interested in changes to Apple device sales vs other companies as it is a significant way to get an idea of Apple Inc.’s ‘health’.

  3. Surprised it’s taken Apple so long to stop breaking down individual sales numbers considering how they have always been twisted to slap them about a bit. Bloomberg and Reuters in particular have seemed to bottom feed off of it for pure self promotion for some years now.

    1. No, this is by design to hide the decline in slowing sales that we all know would eventually come one day. It is designed to shield Cook and Apple from media and Watt Street scrutiny and criticism. Cook started the process by NEVER releasing iWatch sales numbers. Only a fanboy like yourself is making excuses and totally blind to what is really going on…

      1. What is going on is the smartphone market is now mature. Everyone wanting to buy has one. These phones are now more powerful so people keeps them 4 years instead of 2. Bottom line less smartphones are being sold. Apple reacted to this new reality but designing more expensive devices and since people will keep them twice as long, they don’t mind paying more. Apple also invests in its ecosystem (future tv shows) and services to increase recurrent business. And you know what, it seems to be working pretry well thank you.

        1. Agreed. Apple is planning for the future slow down in iPhone sales by deciding not to disclose sales figures for the rest of time. So how will one know in the future what their market share is….

      2. The fact that you called it “iWatch” just means you really have no clue what you are talking about. This is just like Tim said; units don’t matter. Revenue, profit margin; these are the things that matter. This will really only make it more difficult for the shorts to frag down the stock.

  4. Only Bloombust can take a success and turn it into a “flop” by holding Apple to some arbitrary high standard they never advised they would reach, only surpassing their own quarterly predictions.

    Hey Boomturd why don’t we apply your self-serving standard to every company and continuously be in flop mode and downgrade the whole market with your own special brand of stupid?

  5. MDN’s Take is wrong. Bloomberg doesn’t say Apple reported disappointing earnings. It said Apple’s earnings report was disappointing. Very different. The report includes not just earnings but also projections. Those projections are part of the earnings report. They were disappointing.

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