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Why is Apple’s stock price falling today



what happened

Share of apple (Nasdaq stock code: AAPL) After disappointing investors in its fourth-quarter results, the tech giant fell 5.6% on Friday.

So

Despite the challenges of operating the global supply chain during the coronavirus pandemic and closing many retail stores, Apple was still able to achieve 1% revenue growth. It generated $64.7 billion in sales slightly higher than Wall Street’s $63.7 billion forecast.

Part of the small increase was due to strong sales of iPad and Mac, which appeared to be due to more people working and studying from home during the COVID-19 crisis. The strong growth of Apple̵

7;s services and wearable device business also contributed to its moderate sales growth.

The keyboard button labeled sold.

Investors decided to start making profits after Apple’s fourth quarter results. Image source: Getty Images.

However, before Apple introduced new devices that support 5G, iPhone sales fell by 20.7% to $26.4 billion. Analysts had expected iPhone sales to be $27.9 billion.

How to do

Despite the gap, investors still have reason to be optimistic about iPhone’s future revenue and profit prospects. Apple’s new model should benefit from the excitement surrounding the launch of new 5G wireless networks and the amazingly fast wireless Internet speeds they can provide.

CEO Tim Cook said in a conference call with analysts that the initial data for the iPhone 12 indicates that the product is “a good start.” If Apple can maintain this momentum, its stock price will rebound sharply in the next few quarters.




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