Wall Street worries put the hurting on Apple’s suppliers too

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iPhone 8 Foxconn box
A whole lot of companies rely on Apple.
Photo: Feng

It’s not just Apple which relies on, well, Apple to make money. There’s a whole ecosystem of other companies orbiting the giant Cupertino sun, too. And they’re all affected by whatever news raises or lowers Apple’s share price.

That’s what took place this week when Wall Street’s latest wobble about Apple sent out shockwaves through the supply chain. As a result, a whole lot of companies which do business with Apple suffered their own sympathy stock declines.

Rally or not? Apple stock is at a ‘key technical juncture’

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AAPL stock
Should you be excited about Apple stock? This chart could tell you.
Image: CNBC

Apple shares increased 2% on Monday, buoyed by the news that the burgeoning trade war between China and the U.S. could be over.

In all, AAPL is up almost 30% for the year. But according to an equity strategist, what happens next could be crucially important. It’s either very good news for Apple, or very bad.

Jony Ive’s departure hardly dented Apple stock

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Jony Ive
Jony Ive designed many of Apple's most iconic products.
Photo: Vanity Fair/YouTube

With the exception of Tim Cook, Jony Ive is almost certainly the most famous person associated with the modern era of Apple.

As the iconic Brit designer known to millions for waxing lyrical in front of a white backdrop on Apple keynotes (and, you know, designing a whole bunch of insanely great products), he’s an Apple icon.

So what kind of impact did his newly announced departure have on Apple’s stock price? Maybe not as much as you might think.

Apple shares suffer worst month of 2019 so far

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apple money
This hasn't been a great few weeks for AAPL.
Photo: Ste Smith/Cult of Mac

Apple shares are having a rough time right now — but, don’t fear, investors simply think this is a great opportunity to invest.

Shares in AAPL are currently trading at $177.39. That’s down from a high of $211.75 at the start of May. It’s also way down from Apple’s all-time high of $233.47 in October. Unless things turn around in the next couple of days, that will mean Apple posting its worst month of 2019.

Apple regains No. 3 spot in this year’s Fortune 500 ranking

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Big pile of cash underneath an Apple logo.
Apple is worth a whole heap of cash.
Photo: Ste Smith/Cult of Mac

Apple comes in third on this year’s Fortune 500 list, a ranking of companies based on revenue.

Apple lagged behind Walmart and ExxonMobil in terms of revenue. However, it massively outperforms both in terms of profitability. Interestingly, No. 4 on the list — Warren Buffett’s Berkshire Hathaway firm — is also one of Apple’s biggest investors.

Apple share price hit by renewed China trade tensions

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iPhone in China
Proposed trade tariffs have had a big impact on Apple's share price.
Photo: Ed Hardy/Cult of Mac

Concerns about the U.S.’s trading relationship with China is hitting Apple shares.

AAPL’s share price has been steadily sliding since President Donald Trump took to Twitter to talk trading tariffs. It’s currently trading at $189.15, down from its high of $211.75 earlier this month.

Apple has spent at least $24 billion buying back its own shares this year

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Cash app with cash money
Apple isn't afraid to splash the cash on share buybacks.
Photo: Ian Fuchs/Cult of Mac

After slowing down on buying back shares in Q4 when they were cheap, Apple is once again ramping up its share repurchases.

In the first three months of 2019, Apple spent a massive $24 billion buying back its own shares. The board of directors has also added a further $75 billion to Apple’s share repurchase authorization.

Apple stock could be about to make a major rally

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money
AAPL could be headed straight to the top, baby!
Photo: Ste Smith/Cult of Mac

After crashing late last year, Apple stock has had a massive resurgence this year. Its next milestone to hit? Being on track to flash a so-called “golden cross” technical pattern.

This indicates the potential for a major rally. It takes place when a stock’s short-term moving average crosses above its long-term moving average. Golden crosses have recently appeared for Facebook, Amazon, Netflix, and Google parent company Alphabet.

Share buybacks mean that Apple hasn’t actually reclaimed $1 trillion crown

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Big pile of cash underneath an Apple logo.
There's still a bit more that Apple needs to do.
Photo: Ste Smith/Cult of Mac

Yesterday, numerous news outlets (including ourselves, based on data from Yahoo Finance) reported that Apple had reclaimed its $1 trillion crown.

However, a filing made late Wednesday reveals that Apple has not actually hit that milestone just yet. A company’s market cap is calculated by multiplying a company’s outstanding shares by the market price of one share. As a result of Apple’s continuing share buyback program, there are fewer outstanding shares available.