In the latest news related to cryptocurrencies, we are featuring the stocks of Apple on our DC Forecasts crypto news site. In only a matter of hours, the price of Apple has plunged by 10% and the technology behemoth is now struggling in a tough quarter.
Meanwhile, Samsung is also struggling to deal with low sales, despite being the largest conglomerate in South Korea.
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In times when smartphone users feel less compelled to buy new models (and with the introduction of blockchain smartphones), both Apple and Samsung think that this is the main reason for the decline in sales that will come in the next few years.
However, no one knows what was the real reason for the 10% drop of the Apple stock. On January 2nd, the CEO of Apple Tim Cook wrote a letter in which he told the investors that the firm’s projected revenue is expected to be lower in the future.
As an excerpt from that letter states:
“Based on these estimates, our revenue will be lower than our original guidance for the quarter, with other items remaining broadly in line with our guidance. While it will be a number of weeks before we complete and report our final results, we wanted to get some preliminary information to you now. Our final results may differ somewhat from these preliminary estimates.”
Another big reason for the drop may be the ongoing trade war and the unresolved tension between the two countries (US and China).
And while more and more users are sticking to their standard Apple phones without upgrading, maybe blockchain phones can be the future of the smartphone world – especially in times when they can take advantage of the plunging market.
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