contador web Saltar al contenido

Apple shares return to where they were before Tim Cook's letter

On January 2, after the NASDAQ closed, Tim Cook wrote a letter to investors acknowledging sub-expected iPhones sales and adjusting Apple's revenue expectations for its first fiscal quarter of 2019.

Obviously, the bad news was not met with champagne on Wall Street. The following day (3/1), the $ AAPL plunged 9.96% and closed at $ 142.19 lower since July 2017.

Now, three weeks later (and even before the actual financial results conference, which will be next Tuesday), $ AAPL has returned to the level it was before the publication of its CEO's letter. It closed on 2/1 for $ 157.92; today, after an increase of 3.31%, it is now quoted at $ 157.76.

Despite the beautiful recovery, Apple remains the fourth most valuable publicly traded company in the world. In today's values:

  1. Microsoft: $ 822.8 billion
  2. Amazon: $ 816.7 billion
  3. Alphabet: $ 761.4 billion
  4. Apple: $ 746.2 billion

In the end, it looks like the anticipation of the bad results was good for Apple. Analysts will have no negative surprises next week and $ AAPL has no reason to fall again.

Another factor that may have helped in this perception in relation to Apple's results was that other technology giants also reported lower than expected financial results for the period, including Samsung, LG and Intel.