Apple's market value evaporated by trillions of yuan in two days - falling for five consecutive trading days. On March 5th, Apple fell another 2.84%, and its market value evaporated by a total of 147 billion US dollars (approximately 106.02 billion yuan) in two days, dropping to 2.63 trillion US dollars.
On March 4th, internationally renowned investment bank Goldman Sachs removed Apple from its best buy list due to poor stock performance and market concerns about weak demand for its main products. Since June 2023, Apple's stock price has remained almost unchanged with no significant upward trend, while the S&P 500 index (a stock index of 500 listed companies in the United States, indicating a reference number for stock market changes) achieved a significant increase of nearly 22% during the same period.
Apple, which did not rise but fell, has lost another trillion yuan in market value in the past two days, mainly due to several factors.
On the 5th, it was reported that market research firm Counterpoint Research data showed that Apple's iPhone sales in China decreased by 24% year-on-year in the first six weeks of this year. In terms of market share, Apple's market share in the Chinese smartphone market has dropped to 15.7%, ranking fourth, while in the same period of 2023, Apple's market share was 19%, ranking second.
Moreover, according to investment bank Jeffrey's prediction, Apple's shipment volume will continue to experience a double-digit decline in 2024.
In addition to poor performance in the Chinese market, the previous day, the European Union imposed a huge penalty of 1.8 billion euros (approximately 14 billion yuan) on Apple for abusing its dominant position in the music streaming application distribution market. In response, Apple stated that it would appeal against this penalty decision. However, affected by this news, Apple's stock price fell by 2.54% on the same day, and its market value evaporated overnight by 70.4 billion US dollars (approximately 506.9 billion yuan).
It is reported that as of now, Apple's stock price has accumulated a decline of nearly 12% this year.