Flick to apple $75 billion loss in a day

Flick to apple $75 billion loss in a day

Apple’s shares in the world’s largest companies include the biggest drop on Thursday. Within a single day, the company has lost a total of $ 75 billion (about Rs 5,25,800 crore). Apple had said a day earlier that its earnings could remain below the estimate in the last quarter of 2018. Earlier, the company had estimated revenue of $ 89 billion, but on Wednesday the company said it could earn $ 84 billion. This was the first time in the last 16 years that Apple cut estimates of its earnings. After this warning, the shares of the company fell to ten percent. One reason for Apple’s decline in earnings in the last quarter is the lack of iPhone sales in the Chinese market. After Apple’s warning, there was a decline in the US main markets too. The Nasdaq index of technical companies fell 3.1 percent to close.

Shock or devastation?
Apple became the world’s first billion (one trillion) dollar company in August last year. He touched the figure of thousand billion rupees while retaining other big companies like Amazon, Microsoft, and Facebook. This was because the company had submitted its last three months of the good performance report, which was seen to be a bounce in its shares. But now, some of the analysts seem to be a minor shock to this huge fall in Apple’s shares, and some are saying it a great catastrophe for the company. But now the company’s new iPhone sales decline is the main reason behind this. iPhones consumers were eager to buy new iPhones to launch in the market first. Once the new iPhone was launched, lines were taken out of the company’s showroom. But now it is not happening.

BBC technology reporter Dave Lee says, “Because of the quality of today’s mobile phone, we are not very keen to buy a new model of the phone, now the new iPhone has become one thousand dollars.” But it is not that Apple was not sure about the coolness of the new iPhone sales. That is why Apple has made efforts to move forward in many other areas too. Today Apple has made remarkable progress in the service, health and fitness sector. Apple makes a lot of money from the service area as much as Facebook’s gross earned. Dave Lee says, “So it would be wrong to say that the Apple company is in trouble.”

But China’s economy is falling on the other hand and this is the reason why the iPhone is selling less in the Chinese market. The rapid decline in China’s economy can not be estimated by Apple nor any other. Business tension between China and USA is also a reason for Apple’s loss. Apple CEO Tim Cook considers US President Donald Trump responsible for this. Tim Cook told the shareholders of the company, “The impact of the trade war has now appeared and the trust of the customers is staggering.” Apple may have been heavily damaged, but the company’s sales are still full, and it is quite possible that Apple will set up another new branch in some other area. This club has enough money to do this.

Mihir Shah Editor

I am a Computer Engineer and a Post Graduate in MBA (Marketing). I am currently working as a Team Lead (ICT domain) for Credence Research Inc.

As a Team Lead, it is my responsibility to create an inspiring team environment with an open communication culture, set clear team goals, delegate tasks and set deadlines for the team. It is my responsibility to aid associates in forecasting market trends and formulate industry and market strategies. My job responsibilities also require talking to the business leaders worldwide, and understanding their business.

follow me

Leave a Reply

Your email address will not be published. Required fields are marked *