Back on May 13, 2019, mobile manufacturing giant, Apple entered into a bear market. Many analysts have speculated that the present event has taken place due to the trade war between China and U.S. Shares of Apple fell on Monday down to 5.8%. In October 2018, the company had a share worth $233 which recently came down to $185.72. Apart from Apple, Companies like S&P as well as Nasdaq suffered a plunge of 2.4 and 3.4%.
At present, the mobile manufacturing giant is trying to earn a lot of market shares in China. On April 30, 2019, Apple provided its Q1 earning for the present year which was around $10.2 billion, which was 21% lower than what the company had earned during 2018’s Q1.
During a recent interview with the press, the CEO of Apple stated that the worst phase of the iPhone is over. Tim Cook also said that the recent talks between US diplomats and Chinese delegation provides a sure indication that the iPhone will gain profit in the upcoming future. Tim Cook also said that the iPhone is receiving a satisfying response from customers which is a great thing.
Back on May 5, 2019, US president stated that he may increase the tariff rate on the Chinese goods by 25%. The comment of Donald Trump had cost Apple a great deal of loss as since then the company has registered a sheer drop in its shares. Moreover, companies which deal in manufacturing parts of Apple’s iPhone have also suffered great loss.
Recently, the share of a Taiwanese company named Catcher Technology has plunged to near about 7%. An Austrian company named AMS also has suffered a loss of around 5%. Few analysts also speculate that the shares of Apple have plummeted as two people had accused the mobile manufacturing giant that it is violating the anti-trust rules which were set by the US government.