The technological giant and the world’s most valuable company, Apple, is going through a relatively challenging period. Its revenues have dropped in the second quarter of this year. Investors “appreciated” the unfavorable news by selling off shares, which lost nearly five percent of their value in a single day. Over the course of the week, the decline deepened even further.

During Friday’s trading, shares of the technological company Apple dropped by 4.8 percent. The overall market value of the company fell back below three trillion dollars.

However, Apple still remains the most valuable publicly traded company in the world. Throughout the week, Apple’s shares shed more than seven percent.

The decline in share value is primarily attributed to the unsatisfactory financial results of the technological giant. In the second calendar quarter of this year, it reported a revenue decrease of one percent. Apple earned nearly 82 billion dollars from April to the end of June.

However, earnings per share increased by five percent.

To some extent, Apple’s shares are riding a slightly pessimistic wave that has affected technology stocks in recent weeks. Investor interest is gradually shifting away from technologies towards shares of companies from other sectors that offer growth potential and have been outside the spotlight of investors.

In general, shares could perform well in the coming weeks, especially considering the development of the monetary policy of the US central bank.

Although the central bank increased the base interest rate by a quarter of a percentage point at its latest monetary policy meeting, analysts believe it could be the last “hike” for a while. And that is always good news for the stock markets.

Source: Nellis – Reuters