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At that time, analysts were worried not only about sales, but also about revenue and profits. That kind of talk would dampen investor demand for Apple shares. But this is not the case. Although the global financial crisis has caused unemployment to rise and consumers to have less cash in their hands, Apple and Apple's sales have bucked the trend and their profits have hit new highs.
But the analysts were wrong. Apple’s share price more than doubled in 2016 and nearly doubled again in 2018. In fact, with the exception of last year, Apple's stock price has risen every year since. Last year, analysts began repeating their sentiments.
Although Apple's stock price has hit a new low, it is still around 2019. Analysts who did not understand Apple's business believed that Apple would encounter a serious crisis. At that time, many investors believed that the analysts' views were the consensus.
It’s impossible for these analysts to understand Apple any better now than they did then, in part because Apple is now larger, entering many different new markets, and its supply chain is more complex. In 2016, it was only sold in the United States and did not enter the Chinese market.
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