{"id":54117,"date":"2023-08-28T19:01:03","date_gmt":"2023-08-28T23:01:03","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/apple-stock-is-off-way-more-than-nasdaq-what-went-wrong-and-could-go-right\/"},"modified":"2023-08-28T19:01:06","modified_gmt":"2023-08-28T23:01:06","slug":"apple-stock-is-off-way-more-than-nasdaq-what-went-wrong-and-could-go-right","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54117","title":{"rendered":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000730231\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Apple<br \/>\n       stock has lagged badly behind the<br \/>\n        Nasdaq Composite<span>,<\/span><br \/>\n       but there is hope. The iPhone 15 is set to be launched next month.<\/p>\n<p>August hasn\u2019t been a kind month for the stock market. As of the close on Friday, the<br \/>\n        Nasdaq Composite<br \/>\n       had fallen 5.3% in August and was on pace for its worst monthly performance of the year, according to Dow Jones Market Data.<br \/>\n        Apple<br \/>\n       (ticker: AAPL) had fallen 9.1%, its first monthly drop in 2023.<\/p>\n<div class=\"paywall\">\n<p>Through Friday, Apple was underperforming the Nasdaq Composite by 3.8 percentage points, and was on pace for the largest monthly underperformance since November 2022.<\/p>\n<p>News in early August that sales fell 1% from a year earlier in the quarter ended July 1 pushed the stock lower. Importantly, Apple posted a year-over-year drop in sales of the iPhone, the product that brings in the most revenue for the company. On a call to discuss the results with analysts and investors, management said that there has been a decline in the U.S. smartphone market over the last couple of quarters.<\/p>\n<p>\u201cProducts revenue was $60.6 billion, down 4% from last year, as we faced FX [foreign exchange] headwinds and an uneven macroeconomic environment,\u201d Chief Financial Officer Luca Maestri said. <\/p>\n<p>Market research firm International Data Corporation said in a report Aug. 11 that worldwide smartphone shipments declined 6.8% from the previous year in the second quarter, marking the eighth consecutive quarter of contraction \u201cas the market struggles with soft demand, inflation, macroeconomic uncertainties, and excess inventory.\u201d<\/p>\n<p>But there is hope. Apple is expected to release its newest iPhone 15 sometime in September. As <em>Barron\u2019s<\/em> has reported, Apple stock historically has gained in the early months following a phone launch. That could happen again after the iPhone 15 is released.<\/p>\n<p>\u201cThe iPhone 15 is set to bring design and feature updates, and we think that the design changes\u2026 will not only drive device refresh, but also drive a higher ASP [average selling price] mix via both higher pricing and incrementally convincing consumers to spend more and purchase the Pro models vs. the base models,\u201d Evercore ISI analyst Amit Daryanani wrote in a research note on Aug. 18. He rates the stock at Outperform with a $210 price target.<\/p>\n<p>Wedbush analyst Dan Ives is also upbeat. <\/p>\n<p>\u201c[We] expect a $100-$150 price increase on the iPhone 15 Pro\/Pro Max version which after major carrier promotions should be digestible to many upgrade customers; which we estimate represents about 240 million iPhones worldwide that have not upgraded in 4 plus years,\u201d Ives wrote on Aug. 15. He rates the stock at Outperform with a target of $230 for the price.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/apple-stock-underperforms-nasdaq-iphone-3f734929?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind month for the stock market. As of the close on Friday, the Nasdaq Composite had fallen 5.3% in August and was on pace for its worst monthly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-54117","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=54117\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=54117\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T23:01:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T23:01:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1693263664_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54117#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54117\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right.\",\"datePublished\":\"2023-08-28T23:01:03+00:00\",\"dateModified\":\"2023-08-28T23:01:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54117\"},\"wordCount\":449,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54117#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54117\",\"url\":\"https:\/\/ifintechworld.com\/?p=54117\",\"name\":\"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-28T23:01:03+00:00\",\"dateModified\":\"2023-08-28T23:01:06+00:00\",\"description\":\"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54117#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54117\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54117#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld","description":"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=54117","og_locale":"en_US","og_type":"article","og_title":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld","og_description":"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind","og_url":"https:\/\/ifintechworld.com\/?p=54117","og_site_name":"iFintechWorld","article_published_time":"2023-08-28T23:01:03+00:00","article_modified_time":"2023-08-28T23:01:06+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1693263664_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=54117#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=54117"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right.","datePublished":"2023-08-28T23:01:03+00:00","dateModified":"2023-08-28T23:01:06+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=54117"},"wordCount":449,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=54117#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=54117","url":"https:\/\/ifintechworld.com\/?p=54117","name":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-28T23:01:03+00:00","dateModified":"2023-08-28T23:01:06+00:00","description":"Apple stock has lagged badly behind the Nasdaq Composite, but there is hope. The iPhone 15 is set to be launched next month. August hasn\u2019t been a kind","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=54117#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=54117"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=54117#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Apple Stock Is Off Way More Than Nasdaq. What Went Wrong\u2014and Could Go Right."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54117"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54117\/revisions"}],"predecessor-version":[{"id":54119,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54117\/revisions\/54119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/54118"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}