From Nasdaq:

In 2023, Apple’s stock price surged by 49%, although its revenue decreased. Despite its decline, Apple retained its market influence and devoted customer base. Factors contributing to this decrease include intense competition in the smartphone market, changing consumer preferences, and issues with the supply chain due to the US-China trade war.

Apple faced legal issues in 2023, halting sales of Apple Watch models before Christmas due to a patent dispute with Masimo. While Apple’s stock continued to rise in price, substantial setbacks in hardware and legal issues impacted the company’s performance.

Apple’s services division, including Apple Music and cloud storage, has become crucial in maintaining stability amid the declining hardware sales. With a shift towards recurring revenue, Apple’s stock may be transitioning to a value stock rather than a growth stock.

In 2024, Apple needs to rekindle hardware sales and continue nurturing its services segment. The company’s ability to innovate, leverage its strengths, and navigate a changing tech landscape will determine whether it regains prominence in the tech industry. Apple’s 2023 performance highlights both promise and peril, making it a company to watch closely in 2024.



Read more: Apple: A bite of reality in a volatile market