Friday , January 27 2023

Apple's Hard Case – Degraded Stock – Apple – Stock Exchange and Finance


Apple's stock fell month-on-month by 2.84% after storage before the end of the week. On Friday, the quota ended 6.63%, the worst for more than four years.

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

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

The US stock exchanges ended mixed months, where the technology sector was hit by a new day of decline for Apple.

At the time of closure, developments were as follows:

  • The Dow Jones Index increased by 0.76%
  • The S & P 500 increased by 0.56%
  • Nasdaq ended 0.38%

Sources: Iphone XR Trays

Nikkei Asian Review wrote Monday that Apple hosted plans to boost the iPhone XR production and focus on older iPhone 8 and iPhone 8 Plus models. Anonymous sources familiar with the case say that Foxconn's subcontractor will produce around 100,000 phones less daily than the plan.

– From Foxconn, they have cleared the 60 production lines for the Apple XR. In the past, they only used about 45 production lines because the company's most important customer said he did not have to produce so many right now, says one of the site's sources.

Apple's action is downgraded again

As a result of week-end results, Rosenblatt Securities brokerage house also downgrades the Apple recommendation, CNBC writes.

This is the second downgrade for the iPhone manufacturer, according to number one, the prospects and phone sales have disappointed the market.

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

Analysts at Rosenblatt have lowered the recommendation to neutral over past acquisitions, on the grounds that Apple will be hard to counteract the weaker volume of higher-priced sales.

On Friday, Bank of America downgraded the Apple recommendation.

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