Apple stock has been in tumultuous straits since the technology firm reported their 2016 second quarter earnings, with over $40 billion in market cap value lost as AAPL opened the next day down more than eight percent. This earnings call marks the first time Apple posted year-over-year quarterly revenue decline since 2003.
As this chart below from Quartz shows, the earnings call did not help Apple’s stock price.
While the stock recuperated in after-hours trading, AAPL is still struggling to maintain its value this morning as it is getting traded on the NASDAQ. The stock still hasn’t hit its January 2016 low point of $93.42, but no one knows which will way it will eventually go.
Many have pointed to T-Mobile’s innovations with cell phone contracts as the reason for declining iPhone sales, as almost all major carriers have scrapped their subsidy programs. This means that Apple is now selling their iPhones for full price to consumers, many of whom don’t need the extra baggage and upgrades Apple is trumpeting as a reason to cough up nearly a thousand dollars.
Many iPhone users don’t even know what features their current iPhone has, like the iPhone 6s for example. While not completely obvious, by force pressing on the left hand side of the screen, app switcher can be activated, and by force pressing on the keyboard, an individual cursor pops up. Good luck getting your grandmother to care, though.
