Publish button
Login to download. Need an ID and password? Register now!
BUSINESS: Apple stock plunge infographic
Responsive button

Apple stock plunge shakes U.S. economy

Graphic News

January 4, 2019 -- Apple’s revenue warning over weak Chinese sales prompted a 10 per cent share price plunge. The tech giant’s market capitalisation has plummeted almost 40 per cent since its peak of $1.1 trillion in October.

Since 2016, when global sales of Apple’s iPhones slowed by $18.3 billion, Chief Executive Officer Tim Cook responded by increasing the smartphone’s average sales price. Between 2017 and 2018 the iPhone was hiked from $618 to $793, while a top-of-the-range iPhone XS Max cost a staggering $1,449.

Apple’s “services,” which includes music streaming, the App Store and iCloud, showed an increase of $12.9bn, and “other products” — Apple TV, Apple Watch, AirPods — jumped by $6.3bn since 2016. While this $19.2bn jump in revenues covers the iPhone losses, they represent less than 12 per cent of iPhone sales.

Apple also receives around $9bn from Alphabet Inc. which pays Apple to make Google the default search engine in the iPhone’s Safari web browser.

Welcome to Graphic News

If you are new to Graphic News there is a Website Guide to help you find your way around.