It’s the second year in a row that Apple stock has dropped below $100 a share.
And while investors are still holding out hope for a comeback from a slump that has left the iPhone maker in the doldrums, it seems that those hopes have been dashed.
Analysts say Apple’s stock price could fall below $50 a share in the coming months and could hit $30 by the end of 2018.
Apple has a long way to go before it hits that mark, but if it does, it could be a very difficult sell for investors.
The stock is currently trading below $75 a share, down from a high of $130 in October.
Apple shares have been under pressure for years as they have seen their market value plummet as smartphones and tablets have grown in popularity and become cheaper and more affordable.
Investors are worried that a return to profitability in 2018 will lead to an even bigger decline in the company’s market value, which would put Apple in a bind.
“It’s hard to see how Apple can recover from this year’s decline,” said Steve Shuster, an analyst with Bernstein Research.
The company recently released a $3 billion plan to revive its business with a focus on selling its popular iPhone brand.
Apple CEO Tim Cook recently said that Apple would be looking for a “substantial turnaround” from 2018 to 2019.
But even with that plan in place, analysts say that the company has only about $50 billion in cash and marketable securities, compared to $100 billion in revenue and $400 billion in assets.