Some years ago Apple decided to change its name. In its innovative early years (when it made computers like the Apple II, Lisa and the original Macintosh..if your old enough to remember!) it was known as Apple Computer, Inc. Then it decided to change its name to just Apple Inc. A sign of the times, instead of focusing on making desirable, but expensive hardware it ventured into more ‘consumer related, mass market products’. Enter the iPod, the iPhone and now the iPad.
Yesterday it was announced that Apple had lost a whopping $50bn wiped of its share price. An astonishing amount of money, even for a top fortune 500 company like Apple. We have become used to Apple year on year beating last year’s expectations on profits, devices sold and new ‘Apple stores’ opening up in major towns around the UK and abroad. But is this a turning point for Apple’s fortunes? Why has this happened and why are so many shareholders and suppliers to Apple in Asia and elsewhere starting to worry?