Apple, the major tech company, has been the center of the tech industry’s attention lately. Shares for the company dropped a solid 10% Thursday after iPhone sales revealed a noticeable decline.
The popular smartphone accounts for 63% of the company’s profits. So when they noticed that one of their biggest markets (China) isn’t buying new phones, stock shares suffered. This dip means that Apple shares have fallen a total of 40% since October, the hardest decline that Apple has ever seen.
This led to analysts asking “why?” The price of a new iPhone has reached such extremes ($900) that current iPhone users are sticking to what they already have. It’s gotten bad enough that people would rather get broken phones repaired by a third party instead of purchasing a new one.
This is a warning sign of a self-destructive economy. We’re reaching the point that even industry giants are starting to suffer from the poor financial status of the average American. This is why it’s important to, if not practice, at least become familiar and educated with money-free living. This includes farming and hunting for your own food, having a wilderness bug out location, and learning how to store food long term.
Money is quickly becoming the plaything of the super rich, and if the situation in Venezuela has taught us anything, depending on it too much can be deadly.