Apple had little and steady gains in 2019, however, the company’s stocks hit record high reaching $300 per share during the first day of trading in 2020.
This could be a good sign for Apple to start the New Year with better stock performance, shares of AAPL closed at $300.35 on Thursday up from the low $142.19 recorded on January 3, 2019. The prices continue to rise and hit $301.
At the beginning of 2019, Apple warned its investors that they will see slower revenue growth during the year 2019 because of lower than expected iPhone sales in 2019. However, six months ago Apple sales increased in China amid rate cuts.
“Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfalls to our guidance and for much more than our entire year-over-year revenue decline,” Cook said at the time. “While Greater China and other emerging markets accounted for the vast majority of the year-over-year iPhone revenue decline, in some developed markets, iPhone upgrades also were not as strong as we thought they would be.”
Apple has posted revenues of $84.3 billion for the first final quarter of 2019, which were down from a record high of $88.3 billion in 2018. Noting that Mac and wearable segment showed an all-time high while offsetting a 15% year-on-year decline on iPhone earnings.
However, the investor show confident over Apple in 2020 which is being reflected in the recent price hikes, Apple is all set to launch its new iPhones in 2020 with 5G iPhones as well as focusing the budget market with iPhone SE2. It has been reported earlier that Apple will launch iPhone SE2 for $399 in 2020. This could be a game-changer for dramatically increasing iPhone sales in Asian markets and some European markets.