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SÃO PAULO – In a letter to the unprecedented pessimism signed by Tim Cook, Apple has created an atmosphere of chaos in world trade between the end of the afternoon of this Wednesday (2 ) and that of Thursday.
The company itself lost $ 56 billion in market value before the opening of trading, as European technology stocks fell and Chinese indices fell by almost 1%. The Nasdaq index could show a decline of 2.77%, against lower declines of 1.63% for the S & P and 1.53% for the Dow Jones.
The panic comes from the confirmation of what many had already warned. : Sales of iPhones are down. According to Apple, the culprit is China.
"We are revising our forecasts for the first quarter of 2019," begins Cook's letter to investors. "Our revenues will be lower than our initial forecasts, while the other indicators will remain online," he wrote after the close of trading on the first business day of the year.
According to Cook, the company predicts "challenges for emerging markets". but "not the magnitude of the economic slowdown, especially in China". At the time of the publication of the letter, newspapers dropped by 8%; this morning, the new drop was 7.5%.
Cook did not fail to mention the trade tensions between the United States and the Asian country. "The effects also seem to have affected consumers, with a decline in our retail stores and our partners over the quarters," says the letter.
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On the other hand, some badysts doubt the method used by Apple to sell its products. Reuters, Kiranjeet Kaur of IDC's market research firm, said part of the market loss was related to iPhones priced above $ 1,000. "That's almost three times the value of mobile phones from other manufacturers that make up the mbad market."
The smartphone market in general experienced a decline in the Asian tiger in 2018. The companies that lost the most were Apple and its South Korean rival Samsung, while Chinese manufacturers recorded better results.
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