Apple Loses Trillion Dollar Company Status Due to 10% Slide on Stock Market Since Thursday

AAPL has dipped below the $200 mark at times today, and is down around 10 percent since Apple's earnings report last week, resulting in the company losing its trillion dollar valuation in terms of market capitalization. As of writing, Apple has a market cap of around $950 billion based on its latest share count.

aapl below 200
Apple on Thursday reported revenue of $62.9 billion during the fourth quarter of its 2018 fiscal year, an all-time record for the July-September period, but the good news was overshadowed by Apple's revelation that it will no longer disclose iPhone, iPad, and Mac sales on a unit basis starting next quarter.

The news has sparked concerns among some analysts and investors that Apple may have something to hide, as iPhone unit sales in particular were essentially flat last quarter and could begin to decline in upcoming quarters.

Apple's financial chief Luca Maestri said unit sales are "not particularly relevant for our company at this point," as they are "not necessarily representative of the underlying strength of our business." He added that Apple may provide qualitative commentary related to unit sales if the info is valuable to investors.

AAPL is also being dragged down by a questionable report claiming Apple has informed its suppliers to halt plans for additional production lines dedicated to the iPhone XR due to "disappointing demand" for the smartphone.

Not everyone believes Apple's decision to stop reporting unit sales is a bad one. Apple bull Brian White at Monness Crespi Hardt believes the change "makes perfect sense" as Apple's success is "increasingly driven by an ecosystem of product and services on Planet Apple," including rising ASPs.

Apple analyst Gene Munster of Loup Ventures also believes the change will be "a good thing for Apple investors," as "the new reporting method will force the Street to think about Apple's business as a stable and growing service, which should yield a higher earnings multiple in the long run."

AAPL is currently hovering around $199-$201 on the intraday market, down from a closing price of $222.22 on Thursday.

Tag: AAPL

Top Rated Comments

My Name is URL Avatar
71 months ago
That’s fine, just jack up your prices on more crap.
Score: 33 Votes (Like | Disagree)
martyjmclean Avatar
71 months ago
Sending thoughts + prayers to Apple in this difficult time. :(
Score: 31 Votes (Like | Disagree)
User 6502 Avatar
71 months ago
Good. Maybe this will teach them to be less greedy.
Score: 27 Votes (Like | Disagree)
ThunderSkunk Avatar
71 months ago
unit sales are "not particularly relevant for our company at this point,"

Apple has crossed the event horizon into Silicon Valley post-reality utopianism.
Score: 21 Votes (Like | Disagree)
AngerDanger Avatar
71 months ago
I kinda wonder what Tim Cook did upon first hearing the news…

Score: 16 Votes (Like | Disagree)
justiny Avatar
71 months ago
As an Apple shareholder, I couldn’t agree more about the company’s disgusting greed and the increasing prices on their (ever more confusing) product lines as if it’s a fashion trend.

On the other hand, I’m not panicking and have no intention to sell. Despite the negative press, this is a great time to buy Apple stock, as it probably won’t be sub $200 for very long. I might even pick up a few more shares to add to my collection.
Score: 15 Votes (Like | Disagree)

Popular Stories

iOS 18 Siri Integrated Feature

iOS 18 Will Add These New Features to Your iPhone

Friday April 12, 2024 11:11 am PDT by
iOS 18 is expected to be the "biggest" update in the iPhone's history. Below, we recap rumored features and changes for the iPhone. iOS 18 is rumored to include new generative AI features for Siri and many apps, and Apple plans to add RCS support to the Messages app for an improved texting experience between iPhones and Android devices. The update is also expected to introduce a more...
iGBA Feature

Game Boy Emulator for iPhone Now Available in App Store Following Rule Change [Removed]

Sunday April 14, 2024 8:06 am PDT by
A week after Apple updated its App Review Guidelines to permit retro game console emulators, a Game Boy emulator for the iPhone called iGBA has appeared in the App Store worldwide. The emulator is already one of the top free apps on the App Store charts. It was not entirely clear if Apple would allow emulators to work with all and any games, but iGBA is able to load any Game Boy ROMs that...
iGBA Feature

Apple Removes Game Boy Emulator iGBA From App Store Due to Spam and Copyright Violations

Sunday April 14, 2024 9:22 pm PDT by
Apple today said it removed Game Boy emulator iGBA from the App Store for violating the company's App Review Guidelines related to spam (section 4.3) and copyright (section 5.2), but it did not provide any specific details. iGBA was a copycat version of developer Riley Testut's open-source GBA4iOS app. The emulator rose to the top of the App Store charts following its release this weekend,...
iOS 18 Siri Integrated Feature

Apple's First AI Features in iOS 18 Reportedly Won't Use Cloud Servers

Sunday April 14, 2024 9:52 am PDT by
Apple's first set of new AI features planned for iOS 18 will not rely on cloud servers at all, according to Bloomberg's Mark Gurman. "As the world awaits Apple's big AI unveiling on June 10, it looks like the initial wave of features will work entirely on device," said Gurman, in the Q&A section of his Power On newsletter today. "That means there's no cloud processing component to the...
new best buy blue

Best Buy Opens Up Sitewide Sale With Record Low Prices on M3 MacBook Air, iPad, and Much More

Saturday April 13, 2024 7:41 am PDT by
Best Buy this weekend has a big sale on Apple MacBooks and iPads, including new all-time low prices on the M3 MacBook Air, alongside the best prices we've ever seen on MacBook Pro, iPad, and more. Some of these deals require a My Best Buy Plus or My Best Buy Total membership, which start at $49.99/year. In addition to exclusive access to select discounts, you'll get free 2-day shipping, an...
m3 mbp space black

M4 Macs Are Expected to Launch in This Order Starting Later This Year

Sunday April 14, 2024 10:40 am PDT by
Bloomberg's Mark Gurman recently reported that the first Macs with M4 series chips will be released later this year, with more models to follow next year. In his Power On newsletter today, Gurman shared a more specific roadmap for these Macs. Here is the order in which Gurman expects the Macs to launch:1. A low-end 14-inch MacBook Pro with the M4, coming around the end of 2024. 2. A 24-inch ...
top stories 13apr2024

Top Stories: M4 Mac Roadmap Leaked, New iPads in Second Week of May, and More

Saturday April 13, 2024 6:00 am PDT by
Apple's hardware roadmap was in the news this week, with things hopefully firming up for a launch of updated iPad Pro and iPad Air models next month while we look ahead to the other iPad models and a full lineup of M4-based Macs arriving starting later this year. We also heard some fresh rumors about iOS 18, due to be unveiled at WWDC in a couple of months, while we took a look at how things ...
iOS NES Emulator Bimmy Feature

NES Emulator for iPhone and iPad Now Available on App Store [Removed]

Tuesday April 16, 2024 11:33 am PDT by
The first approved Nintendo Entertainment System (NES) emulator for the iPhone and iPad was made available on the App Store today following Apple's rule change. The emulator is called Bimmy, and it was developed by Tom Salvo. On the App Store, Bimmy is described as a tool for testing and playing public domain/"homebrew" games created for the NES, but the app allows you to load ROMs for any...