Wednesday , February 1 2023

Al-Mal newspaper – "Apple" falls from the throne of trillions of dollars


Halen Bader al-Din:

The US market for Apple's electronics devices, especially computers and mobile devices, fell last week by almost $ 67 billion to fall from the throne of the world's largest company, worth more than a trillion dollars, after jumping more than 25% from the level at the beginning of the year. And a 100 billion-dollar stock buyback program.

Apple's shares lost more than 6.5% at the end of last Friday's Wall Street trading session, down to about $ 208.5. After forecasting a fall in sales during the season and Christmas later than anticipated, in weak emerging market economies. .
Apple, based in Cupertino, California, expressed fears for investors when it announced that it would not periodically publish revenue data on the highest-sales iPhone, iPad, and Mac mobile devices, which means sales have reach the highest level and will not grow due to low sales In emerging markets and increased foreign exchange costs.

Apple became the first public company in the world with a purchase ceiling of over $ 1 trillion last summer, thanks to the launch of Mobile iPhone for the first time in 2007, which helped its stock prices rise more than 1,100% since then and raise almost a third of its value during the past year.
Apple's share prices have also gained more than 50,000% since their introduction in the 1980s and so far compared to 2000% for Standard & Poor's 500 S & P over the same period.

Tim Cook, CEO of the company, said sales in the fourth quarter of this year could fall below Wall Street's forecasts due to macroeconomic weakness in some emerging markets, exchange rate costs, and uncertainty as to whether the iPhone manufacturer could exchange demand for New Products.
Apple said it expects revenue of $ 89 billion to $ 93 billion in the first quarter of the fiscal year ending in December, while Wall Street's average forecast was $ 93 billion.

The company announced revenues of $ 62.9 billion in the quarter ending in September, with earnings per share of $ 2.91, surpassing the expectations of $ 61.5 billion and $ 2.79 respectively.

Cook said some of the expectations were explained by the release of Apple's latest iPhone models in the fourth quarter of the year ending in September, while it said exchange rates would have a negative $ 2 billion impact on sales forecasts.

Cook said Apple was not sure it could build enough new iPhones, iPads and Mac models that started in recent weeks, but Cook confirmed that Apple was satisfied with its performance in China, where revenues grew 16% to 11.4 billion in the fourth consecutive quarter of double-digit growth in the region.

Apple sold 46.9 million handsets in the fourth quarter of the year, down from analysts' average forecasts of 47.5 million, but the average selling price of the iPhone was $ 793, much higher than analyst estimates of 750.78 dollars.

Apple announced revenue of $ 265.6 billion for the financial year 2018 that ended in September and gained $ 11.91 a share, earning analyst estimates of $ 264 billion and $ 11.79 a share.

Demand for the most expensive models has risen from expensive iPhones, especially iPhone X $ 1,999 launched last year and was the best-performing model in the quarter, boosting quarterly profit. The average price of the iPhone 724 A dollar higher than expected price of $ 694.
Apple's total sales rose 17 percent to $ 53.3 billion and earnings amounted to $ 11.5 billion, up 32% in the fourth quarter of last year.

On Aug. 2, Apple won the $ 1 trillion mark after 38 years of trading on the New York Stock Exchange and on September 4, Amazon, the world's largest retailer after just 21 years, but Apple took 15 months to increase its market value With about $ 200 billion to surpass $ 1 trillion, while Amazon took only 3 months to grow at the same price. The two companies account for more than 8% of the total value of Standard & Poor's 500 S & P.

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