Apple stocks suffered a devastating hit last week when the tech company revealed that iPhone sales have slowed down. Apple Inc stock was hammered when this news came out. Since then, it continued its downslide seemingly with no end in sight.
The current report has confirmed that the biggest product of Apple Inc is losing its market share over to its rivals in the United States. Apple's share of the country's smartphone market stands at around 42.9 percent. This figure is down from over 44 percent half-a-year ago.
But the interesting part is: the rest of the smartphone industry has not experienced dwindling sales.
For instance, the nearest four rivals of Apple Inc have experienced growth in their market shares within the same period as Apple stocks were receding. Of all its rivals, Samsung seems to be gaining ground and is becoming a real threat to Apple's iPhone.
The tech giant's latest offerings, the iPhone 6s and the iPhone 6s Plus appear not to have impressed the market. It seems that Apple's experience of constantly improving its market share has experienced a standstill.
But a related report indicated that "...it's too soon to write Apple off."
Some analysts seem to believe that this is an opportune time to buy Apple stocks. Considering that the tech giant's shares have gone down around 28 percent from its high peak last summer, it seems that its shares are looking more like a cheap bargain.
"If you're looking at the long haul, Apple is still a stock to own," said Michael A. Robinson, a defense & tech specialist at Money Morning to an interviewer on "Varney & Co." program at the Fox Business Network.
Apple's first quarter earnings have induced Robinson to cut his stock price goal from $142.85 to $130 by Labor Day 2017. And yet he still didn't consider that Apple Inc is a bad investment.
