It is reported that Apple’s stock has lost 7% of tis value in an instance straight after NASDAQ opened. At the same time, Market Leader reports that since the latest quarterly report, Apple have lost 30 billion dollars of its market capitalization. To be more specific, the market cap of dropped by 7,5% all the way down to 526 billion dollars just in 30 minutes after yesterday’s NASDAQ opening.
This happened after Apple released its report for Q2 2016, that ended on March 26th, 2016. This was the first time of a proceeds drop for Apple in 13 year’s time! Later on, the price managed to recover the loss a little bit by restoring the market cap to $538 billion.
That said, Apple’s quarterly proceeds dropped by 13% over the reporting period from $58 billion all the way down to $50,6 billion, Masterforex-V Academy reports. The experts also say that the year-over-year net profit dropped from $13,6 billion ($2,33 per share) all the way down to $10,5 billion ($1,9 per share). The report turned out to be weaker than expected. The thing is, analysts had expected a drop only to $52 billion and $2 per share respectively.
Masterforex-V Academy experts assume that this poor performance of Apple has a lot to do with the consumer reorienting to cheaper devices, lower retail sales, and a drawdown going on in the world’s leading markets. As for Apple sales, the corporation managed to sell some 51,2 million iPhones over the reporting period. 12 months before, it was 61,2 million devices. In the meantime, iPad and iMac sales dropped all the way down to 10,2 and 4 million copies respectively. However, the biggest loser was the Chinese segment of the Apple market, which crashed by 26%! As for the U.S. sales, they dropped by 10% over the same period.
The average cost of the iPhones sold in Q2 2016 was $642 per device. 12 months before, it was $691 per device. The thing is that Apple fans got more interested in cheaper iPhone 5S and mid-price iPhone 6/6Plus.
