Sunday , May 9 2021

Foreign stock markets are shaking due to Apple's lower earnings forecasts

The world's major stock exchanges opened today at a low level after they knew Apple's revenue cuts, which contributes to the already existing weakness due to fears that global economic growth will slow down.

The first cut in Apple's revenue forecast for nearly 12 years has led to a drop in prices on European stock exchanges today, as the most affected technology sector, with chip makers supplying the iPhone maker by force.

Technology div declined its forecast for the first quarter of 2019 to $ 84,000 million, falling below the range of $ 89,000 million to the estimated $ 93,000 million.

Apple has blamed a number of downsizing factors, including weaknesses in the Chinese economy and disappointing iPhone revenue.

The news has raised fears of slowing global growth, as well as the effects of trade tensions between the United States and China on corporate profits.

In Spain, the number of unemployed registered in the employment offices decreased in 2018 to 210,484, with an annual reduction rate of 6.17%, the Ministry of Labor said. Thus, the total number of unemployed persons at the end of 2018 was 3.2 million and at the lowest level in the last nine years.

On the other hand, German Economy Minister Peter Altmaier said in an interview published today that withdrawal of the United Kingdom from the European Union represents an economic risk, although he added he expects continued growth in Germany.

Red colored markets

Pan-European index STOXX 600 fell by 0.7% and joined mass sales in Asia.

Apple shares in Frankfurt fell by 8.9% after the tech giant reduced the revenue forecast, blaming the weak iPhone sales in China, whose economy was hit by the prolonged trade war with the US,

Chip manufacturers supplying parts to Apple were most affected. AMS shares, offering face recognition sensors used in the latest iPhone, fell 19.4%, which is the worst value of STOXX.

For your part, the prospects for the future of Wall Street are not much better. Technological agglomerations in composite nasdaqu recorded a sharp fall of 2.78%, hours of trade start date

And in Asia, the numbers were not much better, but they were more confined:

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