Apple the tech giant best known for the Iconic iPhone range saw its share price fall by 5% wiping more than $40bn off its market value. The reason a profit warning from some of the firm’s suppliers, which raised concerns that maybe demand for the phone is slowing. The fall was probably more to do with profit taking as we begin the wind down to the end of 2018. The share price remain well up on the start of the years price but someway below the peak of over $232 hit on 3rd October.
Given Apple seem to be able to raise the price of their technology without much of a fall in demand, the slump in their supplier’s sales does not necessarily bode badly for Apple, however it will bear watching.
