16.04.2020 Apple Daily Analysis

16.04.2020 Apple Daily Analysis

Apple today is trading on $284.43, it went up with $2.62 from $287.05. The fall of the share is mainly because Apple is facing a lot of competition from other Chinese smartphone companies that are selling phones with 5G capability. China is Apple's 3rd biggest market share where it gains 15% of its sales. However, over the past few years, Chinese android brands have been releasing higher-end phones which negatively affected the supply and demand chain of Apple phones.  Apple is yet to launch its new iPhone with 5G capabilities most probably the last quarter of 2020 however at the meantime the competition is really affecting Apple shares because right now due to lock-downs and social distancing imposed buy the rest of the world only China is open for business and the competition is really affecting Apple sales negatively. More so, Apple shares are going down because it's facing a lot of criticism regarding its tracking technology that it announced in partnership with Google. Senator Richard Blumenthal announced on Wednesday that Apple and Google need to convince the public that any contact tracing technology to track people exposed to coronavirus will not lead to violation of their privacy.  Sara Collins who is a policy counsel at the advocacy group Public Knowledge also stated that although this tracking technology is a promising first step, there are other controls that will need to be put in place to make this truly privacy-protective.