Apple Slides Into A Bear Market — Now Down 20% From Its All-Time High
- 6 years ago
Apple slid into a bear market Wednesday, down 20% from its October peak.
The tech giant in August became the first US company with a $1 trillion valuation. It saw its market value top out at $1.12 trillion in early October, before a stock-market sell-off ravaged the tech sector. Apple was not immune.
In November, Apple reported underwhelming iPhone sales and said that its holiday quarter will be on the low end of expectations. It also said that it would stop reporting unit sales for iPhones, iPads, and Macs. But that was just the start of the recent worries for Apple shareholders. Earlier this week, a handful of Apple suppliers cut their outlooks, suggesting weaker smartphone demand ahead.
The tech giant in August became the first US company with a $1 trillion valuation. It saw its market value top out at $1.12 trillion in early October, before a stock-market sell-off ravaged the tech sector. Apple was not immune.
In November, Apple reported underwhelming iPhone sales and said that its holiday quarter will be on the low end of expectations. It also said that it would stop reporting unit sales for iPhones, iPads, and Macs. But that was just the start of the recent worries for Apple shareholders. Earlier this week, a handful of Apple suppliers cut their outlooks, suggesting weaker smartphone demand ahead.