Apple Inc. witnessed one of the most unexpected things on Thursday, when their stocks fell greatly. The shares of Apple Inc. fell more than 12% on Thursday and closed at $449.29 in New York. This downfall has sparked worried among the investors and analyst and has even raised doubts about the future growth of the company. The profit for the Fiscal first quarter rose less than 1% to $13.81 per share, which is the worst growth rate since past three years.
“People are concerned about how quickly sales are falling off after the initial product launches and whether the company can deliver new and interesting products to reignite growth,” said Walter Piecyk, co-head of research at BTIG in New York.
Apple Inc. will now face a tough competition from its close rivals like Samsung Electronics Co. Broadly speaking, Apple Inc. has failed to impressed its investors and customers ever since Steve Jobs died. It was in the news, that Apple has reportedly stopped the orders for iPhone and iPad parts in coming weeks.
Now for the Fiscal second quarter, Apple has forecasted a sale of $41 billion to $43 billion which would certainly be tough to achieve, taking in account the current downfall situations. On the other hand, Analysts have predicted a revenue of $ 45.5 billion for the Fiscal second quarter.
Apple Inc. witnessed a decline of about $ 175 billion in the company’s share price since September. This has raise concerns about the company’s global status of the most profitable company. Let’s hope for the best and wish that Apple remains world’s most valuable public company.
