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Many investors are struggling to contain their panic over recent plunges of Apple stock. The company’s shares continue to plummet, closing at $93.42 per share this Wednesday. This 3.4% drop follows last August’s decline when shares almost fell to $92 at closing. Last year’s drop was however attributed to a malfunction in the market.

The recent performance of Apple shares is casting a heavy shadow of doubt over investors. As the price per share falls, many are unsure about the future of the gadget company. On the other side of the spectrum, fans of Apple are confident that the shares are a bargain. So far, the market agrees.

Despite this alarming trend of Apple shares, the stock still remains the most important in the market. Even after a 30% descent, the shares are more valuable than those of a few Standard & Poor companies combined.

According to S & P’s Howard Silverblatt, Apple’s estimated revenue exceeds 7% of Standard & Poor’s 500. Regardless of costing investors $224 billion in funds, the company continues to be an important player in the stock market game and is predicted to be for a while to come.

In times past, the price of Apple shares were a product of market speculation. Today, there are other concerning factors driving prices down. Consumer demand for Apple devices, particularly iPhones, is steadily declining. This has led the company to sell the gadgets at lower average prices than expected.

According to Steven Milunovich, a UBS analyst, the average selling price of an iPhone has decreased from the expected $680 to $622 in December. Although it seems like an insignificant drop, it spells trouble for the company in future.

Apple is renowned for selling its gadgets at high prices regardless of competitors offering more affordable products. The decrease in average selling price indicates that the company may be losing its grip on this privilege. Consumers are opting for lower-priced gadgets, which might mean Apple devices are losing their status as premier products.

Milunovich believes that the drop in selling prices is not so much about consumers turning to competitors, but because they are buying more of older iPhone 6 models and fewer units of the new. This consumer trend is likely to cause Apple a 1.4% drop in expected revenue for the December quarter.

With a predicted drop in quarterly revenue, analysts believe the company will report an income of $75.6 billion and possibly fall 2% below Wall Street’s expectations. Despite these grim estimates, Milunovich and his team are still adamant they will see the day Apple stock soars to $142.91 per share.