Apple’s stock has been hit by a wave of trading restrictions across the globe, as investors have sought to hedge their bets against potential drops in its market value.
The latest restrictions came on Friday, and the Cupertino company is now trading below its 50-day moving average (MAC) of $919.60, according to data compiled by MarketWatch.
That is a decrease of just under 5% since the beginning of March, and is well below the trading highs of $1,056.10 and $1.10, which have stood at $1 and $2, respectively.
The changes are also the latest indication that Apple’s market value is likely to remain relatively low, even as it seeks to gain traction in a crowded market.
This year, Apple is expected to earn about $1 billion in profit from its Apple Watch Series 3 smartwatch, according the Wall Street Journal.
Apple is the largest U.S. smartphone maker, but its stock has fallen more than 40% since it started trading in the U.K. in late 2014, according a survey conducted by FactSet.
The firm also found that the U, S., and Canadian markets have been more competitive in recent months, as companies that have yet to gain market share in those markets have seen stock prices fall.
Apple shares have fallen more dramatically in the past few weeks, as analysts have pointed to the company’s recent moves as proof of the company losing its competitive edge.
In a note to clients on Wednesday, Apple said that it expects the number of orders that it receives on its platform to be significantly lower in the second half of the year, as its customers are taking more of a risk-free approach.
“We are seeing the market taking a longer view of the value of the products they buy, and as a result the stock price of Apple will be substantially lower in 2019,” the note read.
The new restrictions come on the heels of an announcement by Apple that it is suspending its payment card program in the United States.
The move was announced in a conference call with analysts and is part of a broader strategy to improve its profitability.
Apple said that this new policy will be in place “for several months,” and that the move “will allow us to focus on our customers in the US market and in the UK market, where we will be able to leverage the strength of our relationships with merchants to create new opportunities.”