TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      New Openview channels coming as platform turns profitable

      27 May 2022

      Wapa’s Paul Colmer on why Icasa should open up 6GHz for Wi-Fi

      27 May 2022

      How Broadcom’s blockbuster VMware deal happened

      27 May 2022

      The cost for South Africa to quit its coal habit: R4-trillion – study

      26 May 2022

      Apple is feeling the smartphone industry chill

      26 May 2022
    • World

      Musk sued by Twitter investors for stock ‘manipulation’

      27 May 2022

      Broadcom agrees to buy VMware for $61-billion

      26 May 2022

      Musk pledges more equity to fund Twitter deal

      26 May 2022

      Sony looks beyond the console to PC and mobile gaming

      26 May 2022

      Andreessen Horowitz raises world’s largest crypto fund

      26 May 2022
    • In-depth

      Bernie Fanaroff – the scientist who put African astronomy on the map

      23 May 2022

      Chip giant ASML places big bets on a tiny future

      20 May 2022

      Elon Musk is becoming like Henry Ford – and that’s not a good thing

      17 May 2022

      Stablecoins wend wobbly way into the unknown

      17 May 2022

      The standard model of particle physics may be broken

      11 May 2022
    • Podcasts

      Spectrum auction opens up big growth opportunities – Ruckus Networks

      26 May 2022

      Everything PC S01E03 – ‘The story of Intel – part 1’

      25 May 2022

      The rewarding and lucrative careers to be had in infosec

      23 May 2022

      Dean Broadley on why product design at Yoco is an evolving art

      18 May 2022

      Everything PC S01E02 – ‘AMD: Ryzen from the dead – part 2’

      17 May 2022
    • Opinion

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022

      Cash is still king … but not for much longer

      31 March 2022

      Icasa on the role of TV white spaces and dynamic spectrum access

      31 March 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Investment»Investors turn bearish on Apple

    Investors turn bearish on Apple

    Investment By Agency Staff13 May 2022
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Apple shares fell on Thursday, with the stock now about 22% below its January peak as a selloff in technology stocks spreads from more speculative shares to the world’s biggest companies.

    The stock fell as much as 3.3% to US$141.66 and is trading at its lowest since 14 October 2021. The slump has erased about $696-billion in Apple’s market value since the 3 January record, a slump that enabled Saudi Aramco — which has benefited from this year’s surge in oil prices — to overtake the tech giant as the world’s most valuable company.

    The widespread tech weakness has been spurred by concerns about inflation and rising interest rates. The Nasdaq 100 Index has slumped more than 7% over the past four days and on track for a sixth straight negative week, its longest losing streak since 2012.

    Uncertainty surrounding inflation is going to continue to complicate the picture

    “Sentiment is very depressed, and uncertainty surrounding inflation is going to continue to complicate the picture,” said Keith Lerner, co-chief investment officer and chief market strategist at Truist Advisory Services. “Even though prices are getting cheaper, we need a spark to start moving us up, and I don’t see one.”

    While the tech-heavy Nasdaq 100 has been under pressure all year, Apple’s decline has been relatively recent. The stock has fallen nearly 10% this week alone amid mounting concerns about an economic slowdown. It’s a sudden turnaround for Apple from about six weeks ago, when shares were trading close to their record.

    The stock is on track for a seventh straight weekly drop, which would represent its longest such streak since November 2018.

    Supply chain

    Apple continues to face supply-chain challenges that the company predicted would cost $4-billion to $8-billion in revenue during the current quarter. Still, its strong balance sheet, hefty profits and loyal customer base has insulated it from some of the turmoil in the tech sector.

    The stock is still outperforming the tech-heavy Nasdaq 100 index, which has lost nearly 30% of its value this year, compared with Apple’s year-to-date decline of about 19%.

    Lerner suggested that the weakness in Apple and other big-tech names could be a sign of a bottoming process in markets. “You want to see the generals fall to find a good bottom, so this could be a positive from that perspective, though we can always get more oversold.”  — Jeran Wittenstein, Subrat Patnaik and Ryan Vlastelica, (c) 2022 Bloomberg LP

    Apple
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleMaxtec provides partners with a seamless credit solution
    Next Article Bitcoin’s week from hell

    Related Posts

    New Openview channels coming as platform turns profitable

    27 May 2022

    Wapa’s Paul Colmer on why Icasa should open up 6GHz for Wi-Fi

    27 May 2022

    Musk sued by Twitter investors for stock ‘manipulation’

    27 May 2022
    Promoted

    Financial advisers: manage your commission and analyse revenue effortlessly

    27 May 2022

    BT, MTN Business form strategic alliance in Africa

    26 May 2022

    Think like a start-up: how to build a competitive digital enterprise

    26 May 2022
    Opinion

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    From spectrum to roads, why fixing SA’s problems is an uphill battle

    19 April 2022

    How AI is being deployed in the fight against cybercriminals

    8 April 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.