Apple Has Lost $450 Billion of Revenue Since October 2018!
Just about three months ago, the California tech-giant was enjoying a smooth ride with profits coming in, constantly; considering the fact that it was also the most valued company on the planet, last year. But since October 2018, the freefall of its revenues has generated a lot of ‘negative buzz’ among the analysts, the investors, the consumers, and also those who are the admirers of Apple Inc. in one or the other ways.
Apple has so far lost $450 billion of revenue since October, which is more than even the ‘overall value of social networking giant Facebook’. The total value of Facebook is about $383.76 billion. Well, FB’s total worth is also more than the total GDP of some countries like Iran, Norway, and Austria!
Now, you can imagine how big the loss is for Apple, even taking into account that it’s still got a lot of money and will probably make up for the losses very soon.
On Thursday, the iPhone maker’s stocks fell by 9.96%.
Way back, three months ago, on October 3rd, 2018, when Apple hit a peak of $232.07 per share, it gained a market cap of $1.16 trillion. But now, it just dropped to a low of about $142.19 per share (new results may vary from the article’s figures), clearing out a massive amount of $450 billion from its revenue. And on Thursday, January 3rd, Apple’s market cap was standing at $710.97 billion, as per the reports of Macrotrends.
https://recentlyheard.com/2019/01/06/apple-has-lost-450-billion-of-revenue-since-october-2018/