Published By : 30 Jan 2018 | Published By : QYRESEARCH
The stock price of Apple, one of the leading telecom giants, is back-pedaling from its recent highs amidst rising concerns over the declining sales of iPhone X. The device, which brought in facial recognition technology and a price tag of US$1,000 price tag to Apple’s flagship product line, is likely to fall short of the hopes that company had for it. The speculation about the disappointing demand for this smartphone have been whirling for the last few days, contributing to a decline of 6% in the company’s stock price since it touched an all-time high of US$180.10 on Jan. 18, 2018. On Monday, January 29, 2018, the shares lost US$3.55, closing at US$167.96, which translated into a loss of almost US$60 bn in the market value of the company since the stock last soared.
The company is scheduled to reveal its earning in the first quarter of the fiscal year on Thursday, February 1, 2018. According to market experts, actual evidence of how the latest addition to the flagship range is faring can be estimated only them. The period covers October to December, including the early November release of the smartphone and the holiday season, which generally brings the most prominent iPhone sales of the year for Apple. The company did not respond to a request for a comment on Monday. As per now, a number of investors appear to be emphasizing on media reports and comments of market experts that Apple is radically decreasing the orders of iPhone X with its suppliers.