The world's largest company by market value has become worth considerably less over the past three months. Apple's share price has slid 11 per cent since the company reported its fiscal third-quarter results on 3 August and lost $400 billion in market value.
It is not like this is a bad time of year, in fact, this is the point of the year where Jobs’ Mob is coining it in. This is because Apple uses Autumn to launch its cash-cow iPhones.
This is the first year since 2015 that Apple shares have lost ground between the company's key Worldwide Developers Conference in June and its fiscal fourth-quarter earnings report which typically takes place in late October.
That report is expected Thursday afternoon, and it will be the first to reflect sales of the iPhone 15 family that was launched in late September. Normally the numbers would be great and be accompanied by the Tame Apple Press wetting themselves with joy.
However, only the most brain-damaged pro-Apple reporter believes that they will get much good spin out of tomorrow’s announcement.
Investors are worried that Apple's largest business is now facing new and potentially long-term threats. The growing geopolitical rift between the US and China has finally caught Apple in its vortex, spurring reports of Chinese authorities considering a ban on the use of iPhones and other Apple devices by government employees.
Apple's old China-based rival Huawei has made a comeback with its sell-out Mate 60 Pro in September which can handle 5G speeds.
To make matters worse the iPhone 15 was a classic “resting on our laurels” product, which offered users no good reason to upgrade.
Jobs’ Mob has done its best to limit the amount of inventory it would have in its warehouses but it still has got a problem.
This week’s new chip announcement has given the Tame Apple Press something to talk about, although it is pitching this product to a PC market which is not expected to pick up until next year.
In short, unless Apple can pull a rabbit out of a hat we can expect its value to fall further.