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Apple Fell More than 18% in November

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Dec. 4 2020, Updated 10:52 a.m. ET

Revenue guidance

November was a difficult month for Apple (AAPL) and investors. The stock fell 18.4% in November. At the beginning of November, Apple reported its fourth-quarter results.

Apple beat the revenue and earnings estimates in the fourth quarter. The company forecast sales between $89 billion and $93 billion during the important holiday quarter—Apple’s first quarter of fiscal 2019. Analysts expected sales of $93.02 billion.

Apple announced that it would stop publishing device sales going forward. There’s speculation that Apple’s iPhone sales might be slowing down.

Several analysts are concerned about supply chain data, which point to lower iPhone sales. The tariff war between China and the US has also weighed on Apple’s stock price.

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Apple has lost more than 20% since October

Apple shares have fallen 20.6% since the beginning of October. The stock is trading 23.5% below its 52-week high of $233.47. Despite the recent pullback, Apple has risen more than 7% in 2018.

In November, there was a substantial decline in other FAANG stocks—Facebook (FB), Apple, Amazon (AMZN), Netflix (NFLX), and Google (GOOGL)—as well. While these stocks have generated massive wealth over the last few years, Facebook declined 7.4% in November. Netflix fell 5.2% in November.

Amazon and Google shares have generated returns of 5.8% and 1.7%. These stocks recovered in the second half of November.

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