Apple’s Q2 2016 earnings report has been creating troubles for the company’s stock price and has now led to to the longest streak of losses in 18 years. Which means Apple hasn’t suffered this badly ever since 1998.
Apple shares went to 93.64 yesterday, down by 0.10%. This marks the eighth straight day of loss for the smartphone maker giant. It was in the last week earnings call that Apple reported a year-over-year decline in the revenue for the first time in thirteen years.
It was back in July 1998 when Apple stock suffered an eight day loss streak when the company was on the verge of being bankrupt and Steve Jobs was trying to save it.
AAPL shares have lost over 13% of their value during the ongoing losing streak. Carl Icahn, a notable investor in Apple, also decided to shed off his shared even though he made $3 billion out of it in the last three years.
Tim Cook made an appearance at the popular CNBC show ‘Mad Money’ with Jim Cramer. We will cover the same in a separate post.