The Opening Bell is powered by The Water Coolest.
Rotten Apple [The Water Coolest]
Apple's 2019 has been very "2018" thus far. On Thursday Apple shares suffered their largest single-day loss in over 6 years. Just one day after cutting revenue guidance in a letter to shareholders, Apple's stock price plummeted almost 10%, marking the worst trading day for Tim Cook and Co. since 2013.
Since the fourth quarter of 2018, shares have dropped almost 30%, making AAPL's $1.1T valuation seem like ancient history. After losing more than $450B in market cap, the company has settled below $700B. Big tree fall hard, right?
So, what are you going to do about it?
Cook is making a push for users to upgrade their phones. He blamed China's slowing economy and lack of carrier subsidies for the revenue drop, and believes that pushing Apple's current trade-in program can help counter some of these roadblocks.
But that isn't the only trick Timmy Cell Phones has up his sleeve. Another option for Apple fanboys looking to get their hands on the latest and greatest would be to upgrade their phone on a payment plan, similar to those currently offered via carriers. Translation: stupid people will be more receptive to small monthly payments.
Or, of course, Cook could champion not charging a harvested organ and a first-born child for a cell phone.
But wait, there's more! For all of today's markets and business news, get The Water Coolest delivered to your inbox daily. Signup now.