Monday , September 26 2022

Because of China's trade war: Apple shares catastrophe



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Apple's shareholders suffered significant setbacks on Monday in a generally poor market environment. IPhone maker documents lost nearly 5.2 percent of value. This continues to go up and down the last few days.

In the middle of last week, Apple managed to exceed its market cap of over $ trillion for the first time in months. Psychologically important value was achieved against the backdrop of quarterly results, which turned out to be better than expected – the Group significantly increased its services and wearable business, and for some analysts the "iPhone crisis" was the most widespread, with worse smartphone sales in China from the end of 2018 or even overcoming it.

Now, however, fear has returned to the US technology exchange NASDAQ. The main reason is the new tariffs on Chinese goods that President Trump has announced. Most of Apple's products are assembled in the Middle Kingdom, and many suppliers are also based there. Changing production in other regions – such as Vietnam or India – takes time.

At the end of last week, Apple's stock fell below the $ 200 mark and closed at just $ 193.34 on Monday. The market value is already 873 billion – a loss of a huge 127 billion compared to the middle of last week. Other US technology companies also suffered on Monday, though not as severely as Apple. Thus, it went down on shares of Google parent Alphabet by 3.5 percent, Facebook lost almost 3.9 percent.

Apple, meanwhile, has announced that the company will pay its next dividend on August 15. Anyone who has purchased shares before August 9th will receive them automatically. This time, 77 US cents per share will be issued.


(BSC)

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