Market is technically bearish and waiting for recession. Most companies, their main clients or consumers are the mass market. When recession hits, the mass market will tighten their belts, instead of changing their phone once every two years, they may change their phone only when it is necessary.
When the mass market extends their next purchase cycle, overall revenue drops. Apple is taking this opportunity to capture market share with its new model and competitive prices.
When recession hits, even the most valuable companies in the world will not be spared.
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$DJIA(.DJI)$ $S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $Apple(AAPL)$
Modified in.2022-10-14
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