Apple's stock prices are crumbling, along with the rest of the tech industry.
👉 Background: Apple has been on a high lately, all while battling supply chain issues and inflation. Last quarter saw one of the company's all time best results, with sales soaring to US$97 million and profits up to US$25 billion.
👉 What happened: The entire tech industry has been crumbling around it, and now it looks like Apple's finally crumbling too 🍏 🥧. The company's share price sank around 6% last week, wiping billions off its value.
👉 What else: The Nasdaq (the tech benchmark) is also trending down around 12% for the month... It looks like the industry could be heading towards a bear market 🐻. Take cover in ya nearest log!
💡 In the investing world, the terms 'bull' and 'bear' are used to describe the state of the stock market.
💡A bull market is when the stock market is seeing share prices continuously rise. Like a charging bull, the stock market is running hot. Investors are chuffed, and people sense the economy is going strong.
💡In a bear market, things ain't so good. This happens when prices in the market fall by 20% or more from their 52-week high. Investor confidence sinks and people see the market as risky business. But while we might be approaching a bear market, the good news is bear markets historically haven't lasted as long as bull markets.
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