US-based technology company Apple lost $ 532 billion from its market value in 12 trading days.
After 12 consecutive trading days, Apple, the world’s most valuable private company, lost $ 532 billion from its market value.
While the company’s shares fell by 22.6 percent, the company’s failure to release a new iPhone at its 2020 product launch also accelerated the decline.
According to the news on CNBC, Bernstein analyst Toni Sacconaghi evaluated the company’s new product launch as mediocre.
While Sacconaghi emphasized that although the company does not offer a creative product, it should focus on paid digital subscription services.
He stated that he expected innovations from Apple + service in the coming days.
In the first wave of the pandemic, the correction in technology stocks (Nasdaq), whose excess appreciated in the first wave of the pandemic, also effective in the fall of Apple stocks.
Although Apple lost $ 532 billion from its market value, the company remains the world’s highest private company, ahead of Microsoft.