Remember when Nokia was king of the mobile phone? How about Blackberry?
We’ve seen giants fall before and the question must now be asked, does the same fate await Apple?
Just less than a month ago Tim Cook revealed the new range of iPhones. When he started his address Apple’s shares were trading at $ 163.75, by the close of that day they were down to $ 160.20.
Since then the reviews of the iPhone 8 have been underwhelming and there has been a muted consumer response. We will have to wait and see what response the iPhone X receives when officially launched but it is fair to say that many are starting to smell the familiar scent of giant blood in the water.
The Apple shares have continued to decline to as low as $ 150.55 on 25 September. This 6% drop means over $ 53 billion of value destroyed, this is about the value of Uber!
Here was the opening day queue at the Covent Garden, London, store for the iPhone 6 in 2014
Here was the same store for the new iPhone 8 opening day…
