Shareholders were a bit upset when Apple’s stocks dropped all the way down to $443.77 a few days ago. They voiced their opinions at Apple’s annual shareholders meeting and suggested that Tim Cook increase the amount of dividends shareholders received. Tim Cook reassured shareholders that Apple has a few tricks up their sleeves that would excite its consumers and also improve stock prices. Shareholders were worried because $443.77 is a 35% drop from the $702.10 stock price peak that Apple had back in September.
Well it looks like Apple and its shareholders are in for a bit more bad news. Today, Apple’s shares have dropped to a new low. It has dropped 2.5% down to $430.47, and it looks like things will only continue to go downhill from there. Analysts believe that Apple’s earnings this quarter will decrease year-over-year, and unless Apple introduces something new and exciting, things don’t look like they will improve.
Something like the iWatch, or the Apple TV would help improve Apple’s current position, but the iWatch isn’t expected to launch until 3 years from now and the Apple TV is said not appear for another 2 years. There’s also rumors going around that Apple is planning on creating a cheap iPhone to appeal to the lower-end market of consumers who only need phones that work.
All of this also also comes after that other set of bad news Apple has received. In its lawsuit against Samsung, Judge Lucy Koh cut down Samsung’s $1 billion fee that it owed Apple all the way down to $589 million. Judge Koh is also planning a new trial involving 14 of Samsung’s devices due to an impermissible legal theory. This could cut down the fee even further than $589 million. This just hasn’t been a good week for Apple. Hopefully, the products Tim Cook plans on introducing will have enough of a wow factor to reverse its current luck.
[via Business Insider]