Apple’s shares in the world’s largest companies include the biggest drop in Thursday.
Within a single day, the company has lost a total of $ 75 billion (about Rs 5,25,800 crore).
Apple had said a day earlier that its earnings could remain below the estimate in the last quarter of 2018. Earlier, the company had estimated revenue of $ 89 billion, but on Wednesday the company said it could earn $ 84 billion.
This was the first time in the last 16 years that Apple cut estimates of its earnings. After this warning, the shares of the company fell to ten percent.
One reason for Apple’s decline in earnings in the last quarter is the lack of iPhone sales in the Chinese market. After Apple’s warning, there was a decline in the US main markets too. The Nasdaq index of technical companies fell 3.1 percent to close.
Shock or devastation?
Apple became the world’s first billion billion (one trillion) dollar company in August last year. He touched the figure of thousand billion rupees while retaining other big companies like Amazon, Microsoft and Facebook.
This was because the company had submitted its last three months of good performance report, which was seen to be a bounce in its shares.
But now, some of the analysts seem to be a minor shock to this huge fall in Apple’s shares, and some are saying it a great catastrophe for the company.
But now the company’s new iPhone sales decline is the main reason behind this. IPhones consumers were eager to buy new iPhones to launch in the market first.
Once the new iPhone was launched, lines were taken out of the company’s showroom. But now it is not happening