The Apple iPhone 8 has caused a bit of a ruckus for the company — a ruckus to the tune of $48 billion dollars, to be exact, largely based on the tepid news and reviews about the newest smartphone.
As a result, Apple shares are trading at $154, down from roughly $162 since mid-September, when details truly began emerging about the iPhone 8(s) and iPhone X. The company, its stock and, by extension, its supply chain have all seen bumps in the past several days as news emerged that demand for the smartphone would be less than expected.
According to recent reports, Apple was taking only 40 percent of components from suppliers. When a company outsources production of the nuts and bolts of the gadgets it sells, it pays to gauge the health of the supply chain. If that company tells such partners it wants deliveries to slow or wants to only take a small percentage of what’s been originally ordered — well, there just might be trouble ahead.
Read all about it here, and in the meantime, here are the numbers:
48 billion | Dollars erased from the market caps of Apple and several suppliers on mixed debuts of new Apple products
5.6 billion | Number of outstanding Apple shares, indicating a nearly $45 billion impact on an $8 slide
1 billion | Amount shaved off LG Display’s market cap in USD as supplier stocks are hit
630 million | Market cap lost in USD in the wake of iPhone X product issue rumors
154 | Price at which Apple shares were trading as of reports on Wednesday (Sept. 27), down from $162 per share in mid-September
40 | Percentage of components being shipped, versus original plans for Apple’s iPhone X