Apple incurred losses in its market worth $ 150 billion, as the stock declined by 6%, which is the company’s worst month since 2012, according to CNBC report Issued on Saturday.
According to Reuters, the shares decline comes as the tech giant reported iPhone sales that missed analysts’ estimates and gave no forecast for the holiday quarter, compared with 4th-Q revenue from the iPhone was $26.4 billion, compared to expectations of $27.1 billion.
Later, the firm launched its event on Oct 13th, where revealed the next model of the iPhone 12.
According to Tech news, iPhone 12 series used the company’s latest mobile chipset, the A14 Bionic. While that chipset stacks up favorably to the silicon used in Apple’s last-generation iPad Air.
Noteworthy, Apple started producing 5G iPhones in mid-September. The production of the 5G phones will start with at least one models, the lowest-priced version with a 6.1-inch OLED screen and two rear cameras.
This model accounts for around 40% of the production orders Apple has placed for 5G handsets. The most expensive model will be the 6.7-inch, triple-camera 5G iPhone, according to Nikkei report.
On other hand, Apple’s iPhone shipments grew 11.2% on the year during the April-to-June quarter, according to IDC data, making it the only smartphone maker that saw unit sales increase amid the global pandemic.
Moreover, some market watchers had expected the company to revamp the model each year to revive sales.