Apple's market value evaporated by 766 billion yuan overnight, and the iPhone 16 series will increase in price!
As the world's largest company by market value, Apple has a total market value of several trillions, which is much higher than the GDP of most countries. However, Apple's market value has fluctuated greatly in recent years. There is recent newsIt was revealed that Apple’s market value evaporated by 766 billion yuan overnight. Let’s take a look at the relevant news!
[Apple’s market value evaporated by 766 billion yuan overnight, and Apple was pessimistic by investment banks]
Apple's stock price had a "bad start" in 2024. It fell by about 4.5% in midday trading on January 2 and closed down by about 3.6%. The latest market value was US$2.89 trillion, evaporating US$107.1 billion (approximately 766 billion yuan) overnight.Apple's stock price hit its largest one-day decline since August 4, 2023, and hit a new closing low since November 9, 2023.
On the news, Apple was bearish by Barclays analysts and was downgraded, downgrading Apple's stock rating from "hold" to "underweight." This is the first time the bank has lowered Apple's stock rating to this level in 2019.One rating.At the same time, these analysts also slightly lowered Apple's target price from $161 to $160, which is about 17% lower than the closing price of the previous trading day (last Friday).In 2023, Apple's stock price rose by 49%.
"We expect a reversal in Apple's performance after missing most quarterly estimates over the past year and outperforming other companies," analysts said in a note.
The report writes that the current "sluggish" sales of iPhone 15, especially in China, indicate that iPhone 16 sales will be equally weak."Our assessment of iPhone 15 sales and product mix remains negative. We also believe there are no features or upgrades that could make iPhone 16 more compelling," the report said.
The trend of Apple's sharp drop in market value can be seen long ago. There are many reasons for this situation. In the final analysis, it is because this year's iPhone15 series disappointed Apple fans. We can only hope that Apple will have new ones next year.Put things out!
