So far, it looks like the iPhone 5 has been more of a curse than a blessing for Apple, at least as far as Wall Street is concerned.
Apple’s market value has declined by more than $70 billion from the high it hit two and a half weeks ago when the iPhone 5 was released in stores. The company’s stock dropped to as low as $623.55 a share in early trading Tuesday, pushing the company’s market cap down to $585 billion.
Apple shares hit $700 for the first time ever a few days after the iPhone 5 was announced and rose to an all-time intraday trading high of $705.07 on September 21, the day the phone went on sale, which gave the company a market cap of about $661 billion. The stock closed that day at $700.09 a share, for a market cap of about $656 billion.
Since then, the company’s stock has declined on fears about iPhone 5 supply constraints — most recently from reports of a strike at Foxconn, Apple’s Chinese manufacturing partner. The company’s market value fell below $600 billion on Monday for the first time in nearly two months.
In total, this means Apple lost about $76 billion in market value from the peak set on the day the iPhone 5 was released to Tuesday’s trading low.
Culled from: Mashables
As an Amazon Associate, TechCity may earn a small commission if you shop these products.
Misxi 2 Pack Hard PC Case with Tempered Glass Screen Protector Compatible with Apple Watch Series 6 SE Series 5 Series 4 44mm, Black
$9.96 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Monster Energy Zero Ultra, Sugar Free Energy Drink, 16 Fl oz (Pack of 15)
$23.85 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple AirPods (2nd Generation) Wireless Ear Buds, Bluetooth Headphones with Lightning Charging Case Included, Over 24 Hours of Battery Life, Effortless Setup for iPhone
$89.00 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple AirTag
$24.00 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Sparkling Ice, Black Raspberry Sparkling Water, Zero Sugar Flavored Water, with Vitamins and Antioxidants, Low Calorie Beverage, 17 fl oz Bottles (Pack of 12)
$10.98 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Dell USB 3.0 Ultra HD/4K Triple Display Docking Station (D3100), Black
$100.07 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire HD 8 Kids Pro | age 6-12 | Unleash creativity with included age-appropriate Amazon Kids+ content , robust parental controls, 13-hr battery | 32 GB, Hello Teal
$149.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Acer USB Hub 4 Ports, Multiple USB 3.0 Hub, USB A Splitter for Laptop with USB C Power Port, USB Extender for A Port Laptop, Windows, Linux, Acer PC and More (2ft)
$9.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Anker 553 USB-C Hub, 8-in-1 USB C Dock, Dual 4K HDMI USB C to USB Adapter, 1 Gbps Ethernet USB Hub, 100W Power Delivery, SD Card Reader for MacBook Pro, XPS and More
$39.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
