Apple Inc. (AAPL) is suffering the bearish market as its stocks keep weakening this season, signaling that it may just be nosediving into hibernation mode, especially after it suffered another 2.71 percent decline on Dec. 18, placing the stock price at $106.03 from its 52 week high price of $134.54.
To put it simply, Apple just lost a staggering $160 billion of its shareholder wealth and may just be losing its edge against its competitors in the gadgets and technology business. The decline comes just a day after Apple Chief Executive Officer (CEO) Tim Cook sang praises for its newly appointed Chief Operating Officer (COO), Jeff Williams, on Dec. 17. Hopefully Williams has something up his sleeve to help the CEO bring the company back into its former glory.
To be sure, Apple is still richer than other companies because its $160 billion loss is already equivalent to, not only a crushing blow but, the complete wipeout of other companies. The loss is reportedly larger than the value of 477 companies in the Standard & Poor's 500.
Apple's slump became more noticeable after the demise of its founder, Steve Jobs, and Cook probably did the best he could to keep the company from slipping in the market but it seems his efforts are still not enough.
Some feel that it's about time to sell Apple stocks because it has become too dependent on a product that has seen tougher competition that are not only matching it but outpacing it with better specifications and larger selections. For instance, Samsung has several smartphones lined up with differing specifications as needed by users and it is quick to release higher models too, unlike Apple which has releases that tend to be few and far in between.
In order for Apple to get back into the groove of things, Cook and his new team must really step up with their concepts and production or we may just see Jobs' once majestic company begin to show bigger cracks and slowly crumble.
An apple a day may keep the doctor away but if the kind of Apple you have is the stock shares of the major tech company, you may want to rethink keeping your shares in this bearish market.