Apple’s market value has slumped below the historic $3 trillion level after the company’s outlook for the fourth quarter sparked “worries” (from stock manipulators, charlatans, abject morons, and the like).
Kit Rees and Ryan Vlastelica fopr Bloomberg News:
Apple posted its third straight quarter of declining sales late on Thursday, and predicted a similar performance in the current period.
Apple in June became the first company with a $3 trillion value. The shares have gained 47% this year through Thursday amid a broad tech rally on investor hopes that the development of artificial intelligence could provide a fresh boost to growth.
MacDailyNews Take: Let the doom and gloom brigade have their fun! We’ll take sub-$180 (but we’d back up the truck for sub-$170)!
Wall Street is a game. Drive it lower now to maximize profit later. Profit from the game.
Note: Apple’s fiscal third quarter, traditionally the company’s slowest quarter, totaled 91 days. Revenue totaled $81.8 billion or an average of $898.9 million per day.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
So being at the top of their market spells doom and gloom?