Apple’s Capitalization Falls Below $2 Trillion
Apple’s stock fell about 3.7% – and that was enough to bring the company’s capitalization below the $2 trillion mark. The last time Apple stock was worth that much was in May 2021.
Negative Factors Affecting Apple
The year 2023 got off to a bad start for Apple. The company’s capitalization fell below $2 trillion – the first time since 2021. The company has faced a number of negative factors lately, which obviously haven’t gone unnoticed by investors. In late 2022, for example, there was much talk of delays in shipments of the hit iPhone 14 Pro and iPhone 14 Pro Max due to worsening epidemics in Zhengzhou, where the largest factory for these models is located.
(Image credit: Yahoo Finance)
And already this Monday, Nikkei Asia reported that Apple has notified several suppliers to cut production of components for AirPods, Apple Watch and MacBooks in the first quarter of 2023 due to weakening demand amid rising inflation in the United States and Europe.
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iPhone, iPad, and iPhone – What’s Next?
According to a study this week by Jeff Pu, an analyst at investment firm Haitong International Securities, shipments of all these products (as well as the iPhone) are expected to decline year over year in 2023.
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Frequently Asked Questions
Apple’s stock fell by 3.7% due to a decrease in the company’s capitalization, which brought it below the $2 trillion mark.
The last time Apple’s stock was worth more than $2 trillion was in May 2021.
Apple’s capitalization has fallen below $2 trillion due to a number of negative factors, including delays in shipments of the iPhone 14 Pro and iPhone 14 Pro Max due to epidemics in Zhengzhou, and a decrease in demand for products such as AirPods, Apple Watch, MacBooks, and the iPhone.
The largest factory for the iPhone 14 Pro and iPhone 14 Pro Max is located in Zhengzhou.
Apple has cut production of components for its products due to weakening demand amid rising inflation in the United States and Europe.
Apple is expecting to see a decline in shipments for the iPhone, AirPods, Apple Watch, and MacBooks in 2023.
The study on the expected decline in Apple product shipments in 2023 was conducted by Jeff Pu, an analyst at investment firm Haitong International Securities.
The main reason for the expected decline in Apple product shipments in 2023 is a decrease in demand due to rising inflation in the United States and Europe.
Nikkei Asia reported that Apple has notified several suppliers to cut production of components for AirPods, Apple Watch, and MacBooks in the first quarter of 2023 due to weakening demand.
The negative factors affecting Apple first started to be noticed by investors in late 2022.
