After yesterday to announce a revenue projection reduction of about $9 billion, Apple stock opened on Thursday at $144. It was around a $14 drop from its already plummeting price when the markets closed on Wednesday.
Now, Apple stock is at its lowest price in about a year and a half. Its current stock price knocks the iPhone-maker down to the fourth most valuable company behind Microsoft, Amazon and Google.
Cook’s letter placed the blame for Apple’s lowered projections on a such as fewer than expected iPhone sales, trade wars with China, and even its own iPhone battery replacement program. Read more...More about Apple, Iphone, Stock Market, Tech, and Iphone