Tagged: fell

Apple fell to the altar?

Is Apple really going to fall to the altar?

Apple fell to the altar?

On March 9th, Beijing time, as of the latest close of the US stock market, affected by the broader market, the “market value brother” of the US stock market fell again by 4.17% to US$116.36. The total market value was only US$1.95 trillion. This is the first time it has fallen below this level since 2021. The US$2 trillion mark, and the last time it was in September 2020. Some analysts believe that investors are switching from technology stocks to value stocks or cyclical stocks, which will benefit from the upcoming economic restart.

It is worth noting that the recent Hong Kong stock company Xiaomi also ushered in a sharp drop in its share price. As of press time, Xiaomi once fell more than 7% in intraday trading, but then rebounded slightly. The total market value is only 550 billion Hong Kong dollars, or about 462 billion yuan. Starting from the high of 35.9 Hong Kong dollars per share at the beginning of the year, Xiaomi Group-W plummeted nearly 40% in two months, and its market value evaporated over 360 billion Hong Kong dollars.

Calculating from Apple’s high of US$144.874 at the end of January, the stock price has fallen by 20% in more than a month. Although it is not as low as Xiaomi’s 40% drop, the market value has evaporated by US$480 billion, or about 3.13 trillion yuan, which is the current Xiaomi. 6.8 times the market value.

In other words, Apple evaporates the market value of nearly 7 millets in more than one month. In fact, in August 2020, Apple’s market value exceeded 2 trillion US dollars, becoming the first US listed company to achieve this achievement. Unfortunately, in less than a month, Apple’s stock price plummeted by nearly 7% in a single day, losing the $2 trillion mark.

Apple’s performance is not bad. In the fourth quarter of 2020, Apple achieved revenue of 111.44 billion U.S. dollars, an increase of 21% year-on-year, breaking through the 100 billion U.S. dollar mark for the first time; net profit of 28.76 billion U.S. dollars, an increase of 29% year-on-year. The “New York Times” commented that Apple had its highest profitable quarter in history.

In addition, Morgan Stanley analyst Katie Huberty pointed out in a report that the supply of iPhones has caught up with demand, and that Apple has performed well in China. It is estimated that China’s iPhone shipments in January increased by 150% year-on-year. Even this quarter will remain strong. There is also news that Apple’s spring conference is expected to launch AirTags and the new iPad, which may further stimulate Apple’s stock price.