Apple lost 100 billion dollars through the iPhone 12

Apple lost 100 billion dollars through the iPhone 12

Apple CEO Tim Cook said that ” 5G is an opportunity that falls every decade. And we are very happy to see the Apple iPhone 12 on the market right now. What we see at the beginning of the first five days gives us great confidence that China will return to growth this quarter. “

Why Apple lost 100 Billion Dollars?

A series of Apple iPhone 12 smartphones went on sale exactly a week ago, and smartphones went on sale later than usual, which led to a sharp drop in iPhone sales in the quarter. Shares of the Cupertino-based company fell more than 5% after the publication of the financial report. This led to a drop in the company’s market value by 100 billion dollars.

I t will be recalled that for many years Apple regularly released new iPhones in September. But due to the long-lasting coronavirus pandemic, the company had to postpone the release of new smartphones for a month. Although sales of Macs and AirPods grew during this period, and total revenue and profit exceeded expectations, iPhone sales fell 20.7% to $ 26.4 billion.

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