Daily financial news, local time on Thursday, Apple's stock price fell more than 5%, closing down nearly 3% at $177.56 / share, the latest total market value of $2.8 trillion.
Apple has suffered a sell-off from investors for two consecutive days, falling more than 6% and losing $190 billion (about 1.4 trillion yuan) in market value.
Laura Martin, an analyst at Needham, a well-known Wall Street institution, argued in a report on the day that Apple's lack of strategies for generative artificial intelligence and large language models (LLM) puts it at risk. The wave of artificial intelligence could upend Apple's dominance as the world's largest market capitalization company. Benefiting from the growth of AI, Microsoft, Google's parent company Alphabet, and Amazon may surpass Apple in market value.
Illustration: Apple stock price
The media believes that Apple's stock price fell sharply for two consecutive days is rare. On the other hand, there are reports that iPhones have been disabled on some occasions. It is also reported that the European Union announced the strictest digital supervision list, and technology giants such as Apple are among them. On the other hand, Apple is expected to launch the iPhone 15 series next week, which will form fierce competition with the current selling Huawei mobile phone, and investors are worried about the sales prospects of Apple's mobile phone.
China is Apple's third-largest market. According to Apple's annual report, the company's total revenue in fiscal 2022 was $394 billion, of which 18% came from Greater China, and most of Apple's products are assembled in China. However, at present, Huawei Mate 60 Pro sales are hot, and all colors have been sold out in less than 1 hour, which will impact Apple's high-end mobile phone market share in China.
It is worth noting that the sharp fall in Apple's stock price also dragged down its core component supplier Qualcomm.
As of Thursday's U.S. stock close, Qualcomm shares closed at $106.40, down 7.22%, the largest one-day drop in a month, and lost $9.27 billion (about 67.9 billion yuan) in market value.
Illustration: Qualcomm stock price
Qualcomm supplies chips to mobile phone makers such as Xiaomi, and more than 60% of the company's revenue comes from China.
Tianfeng Securities analyst Guo Mingxi believes that Qualcomm has been hit the most. It is expected that Qualcomm's SoC shipments to Chinese mobile phone brands in 2024 will be reduced by at least 50-60 million compared with 2023 due to Huawei's adoption of new Kirin processors, and it is expected to decrease year by year.
Qualcomm Source: Network
Guo Mingxi said that his latest survey shows that in order to maintain its market share in the Chinese market, Qualcomm may start a price war as soon as the fourth quarter of 2023, resulting in unfavorable profits. Qualcomm's other two potential risks are the expected proportion of Exynos 2400 in Samsung mobile phones, and Apple's expectation that it will use its own computer chips from 2025.