Apple market cap plummets after rare analyst downgrade

[Hanno Labuschagne]

Apple market cap plummets after rare analyst downgrade

Apple Inc. shares buckled after a rare analyst downgrade exacerbated another wave of selling pressure that wiped out hundreds of billions of dollars in market value from the largest US technology stocks.

The iPhone maker dropped 4.9% after Bank of America cut its rating to neutral from buy, warning of weaker consumer demand for its popular devices.

[Bloomberg]

 

[chrisc]

Long term there will be no difference. A short panic, that is all

 

[Dolby]

warning of weaker consumer demand for its popular devices.

Probably very similar for any electronics manufacturer in this economy .

It's really got people questioning 'do I really need this?' and delaying any purchase not deemed vital

 

[Petec]

Traditional Stock Market on traditional shares drop = "Oh, this is stressful for sure, but let's see what happens, Hmmmm?"

If this drop happens to Crypto...
Traditional Stock Market on Crypto drop = "Gaaaa, SEE?! Crypto is the devil and a haven for drug lords and gangsters! Crypto needs to be banned and burnt at the stake!!!"

 

[ghostRgg]

Funny that this happens right after Apple has banned a ton of app developers from their app store due to sanctions, maybe the real reason?

 

[Pak Fa Fui]

They are falling, they could be a couple of mistakes away from a huge fall

 

[Pegging]

Funny that this happens right after Apple has banned a ton of app developers from their app store due to sanctions, maybe the real reason?

The NASDAQ has dropped 32% this year. It's primarily tech stocks in there.

It'll go up again. Unless of course people stop using technology.