COVID-19: Apple falls from No. 4 to No. 14 in GlobalData’s consumer electronics scorecard

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As the world enters lockdown, there will be many consequences for the tech, media and telecoms (TMT) industry. Some will fare relatively well in the short term, for example collaboration software vendors and cloud services providers. Others – particularly IT infrastructure companies – may bounce back after overcoming short-term supply chain issues. But some sectors will do badly: 2020 will be a very bad year for IT services and consumer electronics, says GlobalData, a leading data and analytics company.

Apple has fallen, in just six weeks, from fourth position to fourteenth on the back of its exposure to the COVID-19 theme, according to GlobalData in its latest fully revised report, Tech, Media & Telecom Trends 2020, to reflect the impact of COVID-19 on 17 separate TMT sectors. Its analysis provides insight into the impact of COVID-19 on 600 leading TMT companies.

Cyrus Mewawalla, Head of Thematic Research at GlobalData, comments: “Apple’s supply chain issues, and a predicted downturn in consumer electronics spending for the rest of 2020, contribute to its downgrade in our analysis.”

It is easy to get distracted in this climate by COVID-19 because it is the over-arching issue facing CEOs today. For some, it is an existential issue. But Mewawalla stresses that it is one of many themes they must juggle with.

He continues: “Artificial intelligence could also be classified as an existential theme for some companies, although CEOs have a longer time frame to prepare.”

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