There are several reasons for this market reaction.
First, iPhone lens maker Largan Precision announced a decrease in sales last month by 25%. Such a message caused not only a 10% drop in the company’s shares, but also a decrease in the value of securities of other suppliers.
Secondly, the pessimistic forecast of Rosenblatt Securities indicates that Apple did not will be able to recover. The long-term projected price of Apple securities from 200 fell to 165.
And all due to the fact that the iPhone does not buy as originally expected.
Over the past five years, the demand for the company’s smartphones reached an absolute minimum. Moreover, both in the United States and in China. iPhone Xs, Xs Max and iPhone Xr buy at about the same level as the iPhone 6s.
Apple shares fell 21% in the quarter. And there are no guarantees that the sad trend for the company will not stop there. [9to5]