Monday, October 8, 2012
Apple's shares began to fall because of the rejection of Google Maps
Now I'm writing this post basing on two sources bellow in this post
Also I'm not writing this post because i heat Apple
On many blogs/forums(especially on Nokia forums) in topics about Maps there is discussion if the Maps are so crucial for smart phones. Because the business is measured by the money here in concrete numbers how Maps are important for Apple iPhone 5.
On 21.09 when Afon 5 came out shares reached a record of $ 700. Today shares are $ 650. That's a drop of 7%. If current value of Apple's shares on market is 611b $ with easy math we can calculate and we will reach the lost of whole 49b $. Or like folk said whole $ 49 BILLIONS with the rejection of Google maps.
Source
All finaskiski analysts as a major problem mentioned problem with maps and even a few that have emerged, but the maps are the main problem for investors.
Sorce
On this can be added the position of Tim Cook who publicly apologized that the maps are complete fiasco and advised users to use other maps. If Steve Jobs was alive he never would admit this. By recognizing their inability to make a competitive product on market is reflected immediately.
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Apple
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