Apple’s Stock Dropped, Apple’s bad news and signs of slowdown in national and international growth have caused stocks to fall on Thursday in all major markets.
Investors wiped out about $ 75 billion of Apple’s value alone … a quantity technically known as a ton of shit money. But shares were broadly lower on Apple’s news: the Nasdaq fell 3 percent, or 202.44 points, and the Dow Jones Industrial Average fell 660.02 points, or 2.8 percent.
Apple’s Latest news yesterday that it would lose billions of dollars in profit estimates due to the collapse of sales in China was the reason for the sell-off from recent trading sessions before the New Year (which saw the biggest day-to-day gain in stocks in recent history).
Apple’s Stack Dropped, Apple’s problems in China can be attributed to any number of factors, D.A. Said senior analyst David Fort Tom. The weakness of the Chinese economy, the national enthusiasm of Chinese consumers, or the increasing solid choices available from domestic manufacturers can be an important factor.
Forti said sales were suffering in more parts of China. He said India, Russia, Brazil and Turkey also had a slowdown in sales of new models of iPhones.
Investors have more than just Apple’s weakness to worry about. Chinese manufacturing shifted from growth to contraction in December, analysts in the region expect pain to continue at least in the first half of the year.
“We expect a much worse decline in the first half, followed by more serious relief / stimulus government and strong focus on the liberalization of housing market in large cities, and then we can see stability and even small balls this year.” Ting. Lu, China’s chief economist at Nomura in Hong Kong, wrote in a report quoted by the Financial Times.
Manufacturing in the US is not much better, according to an industrial index published by the Institute of Supply Management. The institute’s index fell to its lowest level in two years.
“There is a lot of uncertainty everywhere that companies are holding,” Bloomberg said Timothy Fiore, head of ISM manufacturing survey. “No matter where you look, you have chaos everywhere, businesses can not operate in an environment of chaos.” It’s a warning shot that we need to solve some of these problems. “
The index is still above the threshold of sharp contraction in the US industry, but the 5.2 point fall from the previous month manufacturing survey is the largest since the financial crisis, and only exceeded once again after September 11, 2001. Terrorist attacks in the United States