Monday , August 2 2021

Apple falls on 18-month slips and drags Wall Street

Reducing sales projections, citing the commercial war, have affected the tech giant's activities.

All eyes were on the Wall Street launch on Thursday after Apple cut sales projections for the last quarter after finishing operations Wednesday.

A half joranda newspapers of the American tech giant fall 9.66% to US $ 142.66, the lowest value since mid-July 2017. If it keeps the trend, this will be the worst daily decline since 2013.

The company, which last year became the first to reach a storm capitalization of over $ 1 billion, leading the world in market value, has now fallen to the fourth world position, below the ABC, with $ 686,700 million, after losing its leadership to Amazon and Microsoft at the end of 2018.

Yesterday, after closing the market, the company founded by Steve Jobs lowered its revenue forecast for the fourth quarter, citing weak sales in China and the drop in iPhone's iPhone update rate, triggering alarms for the effects of a commercial war that is facing Washington and Beijing.

At least fifteen analysts have reduced their price targets for signature documents, and Wedbush was the most aggressive, with a reduction of 75 to 200 USD, just over the average of $ 196.

Concerns about Apple's prospects affect the major US stock indexes. At this time of industrial Dow Jones falls 2.47%, while on Nasdaq composed, primarily technological, lost 2.19%.

Anuque the S & P 500 opposed this trend during the first hours of operation, backed by a multi-billion dollar purchase agreement between Bristol-Meyers Squib and Celgen, Come back here 2.25%.

"The fact that Tim Cook and his company mentioned China as a reason for stalling the company's appearance has affected pressure points and investors have already been upset," Bloomberg Greg McKenna, a market strategist at Bloomberg, told. McKenna Macro.

There were also effects on Apple's suppliers. Chip maker headings, such as Cirrus Logic, Skyworks Solutions, Analog Devices, Broadcom, NXP Semiconductors and Micron Technology, were withdrawn from bad news from their customer.

Effects abroad

During the morning, fear reached Europe first, with losses of various sizes on the main stock markets of the continent. By passing the classes, the highest indices are on the field with red numbers, but with retained falls.

Thus, EuroStoxx 50 dropped by 0.49%, while French CAC and German DAX yielded 0.72% and 0.77%, respectively. FTSE from London is separated with a gain of 0.16%.

Likewise, Asia had losses, but milder: Hong Kong shares lost 0.26%, while those from China, grouped in the CSI 300, fell today by 0.16%.

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