We can add another award to Apple’s long list, although the company might not be too happy to accept it: The iPhone maker’s stock lost the most value of any tech company this year.
The news comes out of a study from USA Today that reports a shocking average 14 percent decline in value from 462 tech companies. That drop resulted in total losses of $529 billion, but Cupertino is the lead horseman in this year’s stockpocalypse.
Apple soothsayers have been predicting doom and gloom for the iPhone-maker ever since Tim Cook dropped the company’s Q1 2016 earnings. iPhone sales are projected to decline. The iPad is still struggling. And even the Mac is taking a drop.
This is the end for Apple according to some Wall Street crazies, but they’re missing a key metric in Apple’s earnings report that shows the company still has a lot of growing to do thanks to it’s huge install base.
You could say 2015 was a product-ive year for Apple. The company entered the wearable market with the Apple Watch, released a hugely updated version of the Apple TV streaming box, unveiled the massive iPad Pro (and considerably less massive iPad Mini 4), took on tune-streaming with the Apple Music service, and made its annual update to the iPhone with the 6s and 6s Plus.
We also saw updates to the operating systems that run all those things, as well as a new desktop OS in El Capitan, but it wasn’t all great news. Apple encountered lawsuits, shakeups and investigations by countries and entire federations thereof.
So whether we ultimately decide Cupertino had a good or bad year, at least it was pretty interesting. Relive the ups and downs with this Apple year in review 2015, Cult of Mac-style.
This time of year yields more Apple doom predictions than New Year’s resolutions, so it’s no surprise that Apple analysts have been naming 2016 as the year iPhone sales finally fall off a cliff.
But according to Brean Capital, not only is Apple stock still worth buying, with a $170 price target, but investors should look through the “supply chain ‘noise'” and see the potential for iPhone sales to hit around 250 million units next year — or 7 percent to 10 percent growth from Apple’s already stellar 2016.
You might remember that on Monday, AAPL stock had a bit of a bad day before rebounding. It wasn’t just a bad day for Apple stock, though: Fueled by fears of a total collapse of the Chinese stock market, the whole S&P 500 collapsed that day.
In the first 24 hours, only Apple rebounded. It’s proof positive of Apple’s fabled “reality distortion field.”