Apple's Stock Price Experiencing Major Fluctuations Amid COVID-19 Coronavirus Outbreak
Apple's stock has been on a rollercoaster ride today since opening at $257.26, with shares rising as high as $278.41 within a span of a few hours before quickly plummeting as low as the $260s. At times, the price has swung by as much as $10 in both directions in a matter of minutes in what has been a volatile trading session.
Apple's stock is still down significantly from its all-time high closing price of $327.20 on February 16, just over two weeks ago.
Apple's performance is in line with a broader selloff of Dow Jones stocks that analysts believe stems from concerns over the COVID-19 coronavirus outbreak. The virus has infected at least 80,000 people worldwide, resulting in at least 2,800 deaths, according to the latest data compiled by Johns Hopkins University.
The coronavirus outbreak prompted many of Apple's suppliers to suspend production at their factories in China last month, while Apple also temporarily closed its retail stores across the country out of an abundance of caution, leading the company to issue a rare revenue warning for the March quarter early last week.
While many of those factories and stores have since reopened, with measures in place such as limited production and reduced hours, there remains a lot of uncertainty over the COVID-19 situation and that appears to be impacting major stocks, ranging from Apple to Coca-Cola to Disney.
Apple CEO Tim Cook on Thursday said he feels that "China is getting the coronavirus under control," adding that the number of reported infections in the region is "coming down day by day by day."
Popular Stories
Apple says iOS 16.4 is coming in the spring, which began this week. In his Sunday newsletter, Bloomberg's Mark Gurman said the update should be released "in the next three weeks or so," meaning a public release is likely in late March or early April.
iOS 16.4 remains in beta testing and introduces a handful of new features and changes for the iPhone. Below, we have recapped five new features ...
Apple is tracking the attendance of its employees at offices using badge records in order to ensure they are coming in at least three times a week, according to Platformer's Zoë Schiffer.
Since April 2022, Apple employees have been operating on a hybrid home/office work policy as part of a gradual return strategy following the pandemic, with staff required to work from the office at least...
While the iPhone 15 series is still around six months away from launching, there have already been plenty of rumors about the devices. Many new features and changes have been rumored for the iPhone 15 Pro and iPhone 15 Pro Max in particular.
Below, we have recapped 10 changes rumored for iPhone 15 Pro models that are not expected to be available on the standard iPhone 15 and iPhone 15 Plus:A1...
This year, all iPhone 15 models will include Apple's Dynamic Island that unifies the pill and hole cutouts at the top of the display, but there will also be a material change to the feature that wasn't included in the iPhone 14 Pro models.
According to a new tweet by Apple industry analyst Ming-Chi Kuo, the proximity sensor on the iPhone 15 series will be integrated inside the Dynamic Island ...
Nothing today announced the launch of its second-generation wireless earbuds, the Nothing Ear (2), which offer many of the same features as Apple's AirPods Pro 2 at a lower price point. We went hands-on with the Ear (2) earbuds to see whether they're a viable alternative to the AirPods Pro 2 for those who want to save some cash.
The Ear (2) earbuds are the successor to the Nothing Ear (1),...
The iOS 16.4 update that is set to be released to the public in the near future includes voice isolation for cellular calls, according to notes that Apple shared today.
Apple says that Voice Isolation will prioritize your voice and block out the ambient noise around you, making for clearer phone calls where you can better hear the person you're chatting with and vice versa.
Voice...
Apple is no longer allowing customers who purchase an iPhone, cellular iPad, or Apple Watch to activate a device with now-defunct mobile carrier Sprint. Apple has also removed remaining references to Sprint from its online store.
When checking out with a new purchase, Sprint is no longer an option for connectivity, a change that Apple appears to have implemented today. Prior to now, Sprint...
The iOS 16.4 release candidate version that was provided to developers today appears to hint at a new set of AirPods that could be coming in the near future. According to @aaronp613, the beta features references to AirPods that have a model number of A3048 and an AirPods case with a model number of A2968.
There have been no rumors that new AirPods are on the horizon, and it is early for...
Top Rated Comments
Oh, and all the people that died, too.
In a discussion with my mother-in-law, saying how much I love my wife does not mean I don't love my girlfriend, her sister, or their older cousin Margaret. Oh, and my dog Max. I love them all equally (ngl, prolly love Max more - just in a different way). Point is, I can discuss one thing and feel some kinda way about another thing without talking about it.
Also, there are flu shots available to mitigate the effects of the flu. This is not the case with coronavirus.