Apple had a lot of expectations from its new iPhone phones, but the XSS, XS Max and XR have been a daunting dream for this company. In October last year, the company was the richest company in the world, whose share was worth more than $ 100 billion. But during October to December, the company lost $ 450 billion. Apple’s CEO Tim Cook told a letter that iPhones sales were less than expectations and likely to be further further
Is. Apple’s shares later saw a 10% drop in the value of shares. On October 3, Apple shares touched 232.07, but it fell down to $ 142.19 on Thursday, and the company dropped 446 billion dollars to $ 674.75 billion. The main thing is that this loss of 450 billion dollars is significant because the total value of Facebook is only $ 380 billion while the number of countries like Iran, Austria and Norway is more than GDP. The advantage of going down Apple is Microsoft, which has become the world’s most valued company, and then there is alphabet. All the three iPhones offered in 2018 did not seem to have been the focus of consumers, due to which the company first decided to reduce its production.
Tim Cook wrote in his letter that China has proved to be the biggest blowback for Apple, but the demand for new iPhone models has been weaker than expectations. He said that we were expecting some challenges in emerging markets but we did not expect such a financial loss, especially in China. However, not only China but this year, people in other countries did not even see the past such interest in the past. According to Tim Cook, the Device Upgrade program has not proved as our expectations and consumers have benefited from the significant reduction in the price for the iPhone battery replacement program.