Apple losts $ 43 bln because of iPhone 8 weak sale

Baku. 25 September. REPORT.AZ/ Over the last week, Apple shares faced sharpest decrease of the last 17 months. 

Report informs referring to Interfax, the decline occurred due to expectations of weak sales of the iPhone 8.

Shares of the Apple on September 22 decreased by 1.5 percent. On the last day of the working week the price fell more than 5.1 percent. As a result, capitalization of Apple fell by more than $ 43 billion. Report informs in the beginning of the last week Apple stock price was $160.11 per share, the week was ended with $151.89 per share.

According to Neil Cybart, the analyst of Above Avalon technology research company, that could leave this weekend’s initial sales lower than at any point since the iPhone 6 first launched in 2014.

The Apple Watch Series 3, which Apple debuted last week, received several negative reviews on Wednesday based on its troubles connecting to LTE networks also led to declines of shares.

Analytical Group of Report News Agency forecast that Apple and other technology companies may start to sell their shares. NASDAQ Technology Index, which represents Apple reached a record 6477 point on September 22 and concluded with 6425 point as of today. 

High price level may be the ground for sale of shares.