CHINA TOPIX

11/02/2024 01:19:12 pm

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Apple Inc. Continues Its Losing Streak In The Stock Market; China Fears Its Heading To Its Dooms Day

Apple

(Photo : Reuters) Investors have been keen about the stock market and Apple Inc. is reportedly not benefitting from it.

Investors have been keen about the stock market and Apple Inc. is reportedly not benefitting from it.

According to Technology News Asia, China is worried that the embattled giant smartphone provider will continue its losing streak to a 5 day ordeal since January of this year. Apple Inc., with its popular iPhones, have recently made a record in China for most iPhones sales, surpassing for the first time sales in the United States. This year, the first quarter has been a blast as Apple sold more iPhones in China than in the U.S., a trend that is seen to stay for a period of time because of the lower cost of the units in China.

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In mid June, however, posted the worst for Chinese stocks as 30 percent of its shares came spiraling down, causing investors to keep an eye and be careful on what they are dealing on Chinese shares. According to FBR Analyst Daniel Ives, they see China as the major market for iPhones in the coming years and this might be good news on both sides. Despite this, investors are worried about a report by the Slice Intelligence that Apple Inc's Apple watch has declined in sales since April. Apple Inc. has not made any statement regarding the issue, thus the claims still prove to be unreliable.

While the Apple Watch has not made any significant impact in the company's brand, as well as their revenue, compared to the sales of iPhones, the Apple Watch has been known to be Apple's CEO Tim Cook's major project since taking the post. Failure to make an impact would also been poor performance on Wall Street.

The Apple stock has also been the major subject of traders in the market and just recently, the giant company came close to reaching the falling "200 day moving average." According to America's Market, Apple's sudden fall is closely monitored for several reasons such as Apple getting into correction territory, Apple losing its position in the market, and a possible "violation of the company's long standing trading range."

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