Wednesday , February 1 2023

Apple's heavy case – The stock depleted – Apple – Stock and Finance


Apple's stock slumped 2.84% on Monday after storage before the weekend. On Friday, the stock amounted to 6.63 percent, the worst case for more than four years.

As a result, the stock declined by 9.40% from Thursday's closing when the company released its latest quarterly report.

Apple's share earnings were $ 2.91 per share in the fourth quarter of the company, from $ 2.07 per share a year ago.

Stock markets in the US ended a mixed Monday, where the technology sector was hit by a new decline day for Apple.

At closure, developments were as follows:

  • The Dow Jones Index rose by 0.76%
  • The S & P 500 rose 0.56%
  • The Nasdaq lost 0.38%

Sources: Iphone XR Discs

The Nikkei Asian Review wrote on Monday that Apple has protected plans to speed up the production of the iPhone XR and focus on the older iPhone 8 and iPhone 8 Plus models. Anonymous sources familiar with the case say Foxconn subcontractor will produce about 100,000 fewer phones a day than the plan.

– On the Foxconn side, they have identified 60 production lines for the Apple XR model. In the past, they only used about 45 production lines, as the company's first customer said they did not have to produce so much now, says one of the sources on the site.

Apple's share is downgraded

After the weekend results report, Rosenblatt Securities also downsets Apple's recommendation, CNBC writes.

This is the second downgrade for the iPhone maker under number one, prospects and phone sales are disappointed by the market.

On Wall Street, Apple drops 3% on Monday, and the stock fell 9.5% on Thursday.

Analysts at Rosenblatt reduced the recommendation to a neutral one from previous markets, on the grounds that Apple would be hard to compensate for the weaker sales volumes at higher prices.

On Friday, the Bank of America downplayed the recommendation for Apple.

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