The most valuable company continues to shed value as stock continues to fall.
The Apple stock dropped more than $20 from an high on July 20th of $132. Two factors are to blame for the drop of the Apple stock. Some analysts start to lower their estimates of iPhone shipments for the rest of the year. The other reason is in the decision of China to devalue its currency. This news has dropped the Apple stock on Tuesday by 5%.
AAPL is trading now at $111 (1.5% down) and there will be the first investors that will opt to buy the Apple stock again.
Apple is set to unveil new iPhones. The iPhone 6S is not expected to surprise. It is though very likely that Apple is again breaking the existing iPhone sales record. As it has done the past years. A huge amount of iPhone users has not upgraded yet to the iPhone 6.
In addition to that the iPhone 6 had strong sales in the first half of 2015.
A problem of Apple is that its success is so dependent on the iPhone. If something does not go well with the iPhone 6S launch, it will cause havoc on the Apple stock.
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