Apple’s stock could go to zero next year, Cisco stock says
Cisco shares could plunge by as much as 40% this year, after a year of near-zero gains, according to a report by the Nasdaq-listed technology company.
Cisco stock rose 3.9% to $7.40 on Tuesday, just after news broke that Apple would announce the next version of its operating system for mobile devices.
Apple’s Mac and iOS operating systems have been gaining in popularity, and analysts have estimated that it could be a catalyst for a broader shift in the PC industry, which is dominated by PCs and smartphones.
The shift could come as Apple seeks to gain more market share in the mobile market, which has a much smaller market share than the PC market.
The Nasdaq stock tracker reported Tuesday that Cisco stock could fall to zero by the end of the year.
The company has also forecast that it will see an annualized decline of 30.6% this quarter, and 40.5% in the full year.
Analysts have predicted that Apple will eventually see a decline of up to 25% this fiscal year, as the company moves to reduce its reliance on hardware suppliers.
The Mac and iPhone makers have been aggressively courting tech firms to manufacture new products, including some products with software and other components designed for them, in an effort to increase their market share.