Apple has been recognized as one of the leading technologies in the industry today. The company started in 1976 and currently, produces popular digital gadgets such as iPods, iPads, Macbooks, and iPhones. Apple since then has been the trend-setter in Silicon Valley for four decades.
The New Era of Apple
Since Tim Cook took over the giant tech in 2011, the launching of the new iPhones has been anticipated every year of September or October. These yearly releases account over half of Apple’s revenue which is critical for the company.
However, this year will be quite different for it has been speculated that iPhone 12 will be possibly delayed for several months. This is due to the drop in Apple’s shares during the stock market rally last Wednesday. Apple’s shares were positive for most of the day and even hit up to $257.89 yet still decreased to .55% marking $245.52 on an entire day.
Thus, Apple is currently preparing the ground to potentially delay the release of the new iPhone by months. This decision was most likely influenced by the recent issues regarding consumer demand during the Coronavirus or COVID 19 crisis and its aftermath. The said device has been attached with 5G compatibility making it their major propaganda which also causes pressure to the giant tech to be a hit.
Apple faces challenges during crisis
The outbreak of COVID19 virus has stirred Apple’s business, majorly affecting its China-based supply chain for manufacturing and its consumer demand for high-end devices in some countries that have ceased their economies to slow down the virus. And according to Strategy Analytics, Global smartphone shipments declined by 38% this February.
With the current pandemic, their headquarters in Silicon Valley is under a shelter in place order and Apple has secured its employees by making them work from their homes. This launch date might not be set yet until this crisis subsides.