Apple stock lost 20% due to the coronavirus

After the peak reached on January 29 with a value of over 327 dollars, the AAPL stock suffered heavy losses mainly due to news from China.

tim cook

The Apple’s stock value has now dropped to $ 244, beyond the 20% off compared to its record high on January 29th. The reason that led to this decline is obviously related to the coronavirus in China, which is slowing down the production of iPhones and, consequently, their availability. In addition, Apple was forced to close its stores in China for several days, but even after their reopening, customers are on average much less than usual.

Tim Cook has tried to reassure investors, but in fact Apple has already announced that it would not reach its revenue targets for the current quarter due to the closure of stores in China and supply problems.

Obviously, this climate of strong concern also other equities are losing value, waiting for the situation to calm down.

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