Tuesday , August 3 2021

External stock markets shuddering on Apple's lower earnings forecast



The world's major stock markets opened today at a low level after knowing a drop in Apple's revenue, which adds to the pre-existing weakness of the fears that the growth of the global economy is slowing down.

The first decline in Apple's revenue forecast for almost 12 years has caused a decline in European stock markets today, which is the most damaging technology sector, with chip makers that supply the iPhone manufacturer to fall.

The technology giant cut its predictions for the first quarter of 2019 to $ 84,000m, falling below the range of $ 89,000 to $ 93,000 million earlier.

Apple has blamed a number of factors to reduce direction, including a weak economy in the Chinese economy and disappointing revenue from the iPhone.

The news has expanded fears of slowing down global growth, as well as the effects of trade tensions between the United States and China on corporate profits.

In Spain, the number of unemployed registered in the offices of public employment services fell in 2018 to 210,484, with an annual reduction rate of 6.17%, according to the Labor Ministry. Thus, the total number of unemployed at the end of 2018 was 3.2 million, remaining at the lowest level in the last nine years.

On the other hand, German economics minister Peter Altmaier said in an interview today that the withdrawal of the United Kingdom from the European Union is an economic risk, although he added that the expected growth in Germany should continue.

Markets in red

The pan-European index STOXX 600 declined by 0.7% and joined the massive sales in Asia.

Apple's shares in Frankfurt fell 8.9 percent after the tech giant cut its revenue forecast, accusing the weak iPhone sales in China, whose economy was affected by the prolonged trade war with the United States.

Most affected chip makers that supply parts with Apple. AMS shares, which provide face recognition sensors that are used on the latest iPhone, fell by 19.4%, which is the worst STOXX value.

For its part, the outlook for Wall Street's futures is not much better. Technological agglomerates in the composite plot declined by 2.78%, hours from the beginning of trading day

And in Asia, the numbers were not much better, but they closed more balanced:


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