Apple has lost 31 Lakhs Crore

Apple is going though rough phase, nothing seems to be working for the great technology company. As reported earlier company lost the lawsuit battel with Qualcomm and faced sales ban of iPhone’s in China and Germany. As per the reports Apple has lost 31 Lakhs Crore as people are not upgrading or buying the new iPhone.

A couple of days back, Tim Cook in his later to investor said that slowness in China economy and people taking longer time to upgrade their iPhone is biggest reason for declining sales. He wrote, “Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline. In fact, categories outside of iPhone (Services, Mac, iPad, Wearables/Home/Accessories) combined to grow almost 19 percent year-over-year.

While Greater China and other emerging markets accounted for the vast majority of the year-over-year iPhone revenue decline, in some developed markets, iPhone upgrades also were not as strong as we thought they would be. While macroeconomic challenges in some markets were a key contributor to this trend, we believe there are other factors broadly impacting our iPhone performance, including consumers adapting to a world with fewer carrier subsidies, US dollar strength-related price increases, and some customers taking advantage of significantly reduced pricing for iPhone battery replacements.”  

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So, coming back to the biggest point, how Apple has lost 31 lakhs Crore in matter of 3 months. It is not surprising to see that Apple’s stocks have been falling. It’s not exactly news. This has been the case for a while. But what nobody is prepared for is exactly how bad the company was doing.

As per the report published in CNBC, in the last three months, Apple has lost $452 billion (which effectively become ₹31 Lakh Crore in INR) in market capitalization, including tens of billions on Thursday as the company’s stock continued to sink further.

Report further stated, “Apple shares have fallen by 39.1 percent since Oct. 3, when the stock hit a 52-week high of $233.47 a share. With its market cap down to about $674 billion, those losses are larger than individual value of 496 members of the S&P 500 — including Facebook and J.P. Morgan.”

Increasing Chinese vendors in the market with great pricing, also one of the reasons for the fall of Apple. Overall, we can say that currently, it seems that things are not moving in the correct direction for Apple, they need to revise their strategy to gain back the momentum and market share as well, we hope best for the company. Apple has lost 31 Lakhs Crore till now and numbers may increase in coming months.

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Rahul is the founder and content producer at Viral Mobile Tech. He loves technology and mobile more than anything else. His 80% time goes in Playing with technology and reading about the new stuff. Exploring new technology is his passion.

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