Apple's market cap down by $430 Billion due to poor sale of iPhone 12

07:00:00 AM, Tuesday 3rd of November 2020 | in business

The new iPhone 12 by Apple didn't meet the sales expectations of the firms and this has caused the firm dearly. A whopping $430 billion has been wiped away from Apple's market cap due to the poor sales. While the design intrigued many customers, the high price of the phone might be the reason behind fewer sales. This led to a 19 percent drop in the firm's market capitalization as it fell to $1.862 trillion from $2.295 trillion.