Shares in tech giant Apple have slid 20 per cent since the launch of the iPhone 5 in September.
That represents a loss in value of over £80bn, with shares reaching a five-month low during yesterday’s trading. It is currently worth in the region of $530bn.
Apple’s share price hit its record high on September 21st – the day the iPhone 5 was released – at which time it was worth around $660bn.
What’s not quite so obvious is where things are going wrong for the firm.
The iPhone 5 sold an incredible 5m units in its first weekend, leading to widespread shortages of the handset across the globe.
However, shortly before the arrival of the iPhone 5 Samsung’s Galaxy S III overtook it to become the top-selling smartphone in the US. It’s a title that it undoubtedly lost when Apple’s latest model arrived, but it demonstrates the increased strength of Apple’s rivals.
Indeed, Apple’s share of the tablet market is said to have fallen from nearly 60 per cent to just over 50 per cent prior to the launch of the iPad Mini and iPad 4.
We shouldn’t forget, however, that the pairing shifted an impressive 3m units in their opening weekend.