In 2024, Apple has faced some challenges that have impacted its stock price, reaching a low point for the year at $170.12. As of now, it is trading even lower at $169.12, but there’s still time for potential changes in the market.
Investors have expressed some concerns about Apple’s future outlook due to various reasons:
– Following negative revenue growth in 2023, Apple provided modest growth guidance during its February earnings call.
– iPhone sales in China have dropped by 24% year-over-year in the first six weeks of 2024.
– The EU imposed a $2 billion fine on Apple over App Store policies, leading to further stock decline.
The AI race is another area where Apple is perceived to be lagging behind compared to competitors like Microsoft and Nvidia. While Microsoft’s stock has seen an 8.5% increase this year, Nvidia’s stock has surged by 78% in 2024 alone.
Rumors suggest that Apple may introduce deep AI integration with iOS 18 at WWDC this June, potentially catching up with rivals in the AI space.
In contrast to Apple’s challenges, Nvidia experienced significant gains in 2023 and has surpassed Alphabet to become the third most valuable US company, trailing only Microsoft and Apple in market cap valuation.
Despite these setbacks, there is optimism that Apple may turn things around with upcoming developments in AI technology and product offerings. Stay tuned for more updates as the situation evolves.
