Consumers are tired of having a $1,300 product pushed on them yearly with the same features, you say? pic.twitter.com/LALAjGTI4b
— Don Johnson (@DonMiami3) September 16, 2024
“Consumer behavior is starting to shift as consumers increasingly focus on value, and become more cautious with their spending,” Ulta’s, $ULTA, Chief Executive Officer Dave Kimbell said
Bath & Body Works, $BBWI, also said US shoppers are increasingly cautious about spending.
— unusual_whales (@unusual_whales) September 17, 2024
Apple’s $100 billion drop sends stock to 5-week low as iPhone demand questions linger
Shares fell 3% by midafternoon, wiping out roughly $96 billion in market capitalization, though Apple comfortably remains the most valuable public company in the world.
Apple dropped Monday to its lowest intraday share price since Aug. 9.
Spurring the selloff were several analyst reports tracking iPhone 16 since pre-ordering began last week, including a late Sunday report from the influential analyst Ming-Chi Kuo of Hong Kong-based TF International Securities that estimated a 12.7% annual decline in preorder volume for the new iPhone model compared to last year’s iPhone 15 launch, based on supply chain analysis and global delivery timeline data from Apple’s website.
Other analysts reported lighter demand during the first weekend via their research, including JPMorgan’s Samik Chatterjee, who wrote to clients early delivery data indicates “modestly softer” demand for the high-end iPhone 16 Pro, and Bank of America’s Wamsi Mohan, who noted Pro model ship times are “somewhat less” extended compared to the iPhone 15 Pro models overall and China ship times are shorter than in other regions, potentially signaling softer demand.
www.forbes.com.au/news/investing/inside-apples-100-billion-drop/