China is the second largest economy in the world. Its tension with America is continuously increasing. On Wednesday, the Chinese government refused to allow its employees to use Apple's iPhone. Along with this, there is news that China can completely ban Apple iPhone in America. After which there is a decline in the shares of the company. If Thursday's fall is also added after Wednesday, then a decline of more than 8.50 percent has been seen.
Due to which the company has lost more than 250 billion dollars i.e. 20.79 lakh crore rupees from the market cap. This amount is more than the total net worth of Bernard Arnault, the world's second richest businessman. Let us also tell you how much decline has been seen in the shares of the company and at what level the stock of the company is trading.
Company's shares sank more than 5 percent
Shares of the world's biggest saw a decline of more than 5 percent on Thursday. According to the data, the company's stock opened at $175.18 and fell to the day's low of $173.54 during the trading session. Whereas a day earlier, the shares of the company had fallen by more than three and a half percent and the company's stock had closed at Rs 182.91. Whereas on Tuesday the company's shares closed at Rs 189.70. This means that since then till today's lower level, the stock of the company has seen a decline of more than 8.5 percent.
Semiconductor index also declined
The news of Apple's iPhone ban from China spread like wildfire and its effect was seen in the stock market as well. The tech-heavy Nasdaq 100 index is trading down about 1 percent. Meanwhile, the Philadelphia Semiconductor Index, which includes many Apple suppliers, is down 2.5 percent on Thursday. If experts are to be believed, the company's shares may see a further decline in the coming days.
Shares of tech companies also declined
According to OANDA Senior Market Analyst Edward Moya, Nasdaq is sinking, the main reason for which is the decline in Apple's shares. Due to this decline, there is a decline in the shares of many tech companies. He said that Apple's growth story depends to a great extent on China. If China continues its actions, then dependence on China can create big problems for other tech companies.
Apple's 250 billion dollar embezzlement
Due to the fall in Apple's shares in the last two days, the company's market cap has seen a decline of $ 250 billion. If we look at it in Indian Rupees then it is more than Rs 20.79 lakh crores. According to American time, at 1:18 pm, the company's shares are trading at $ 176.47 with a decline of 3.55 percent. The market cap of the company is at $2.759 trillion. Whereas a day earlier the market cap of the company was 2.85 trillion dollars. While the market cap of the company was $ 2.95 trillion on Tuesday. When the company's stock reached $ 173.54, the company's market cap reached $ 2.70 trillion.
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