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."
Apple's AirTags are being used in an increasing number of targeted car thefts in Canada, according to local police.
Outlined in a news release from York Regional Police, investigators have identified a new method being used by thieves to track down and steal high-end vehicles that takes advantage of the AirTag's location tracking capabilities. While the method of stealing the cars is largely ...
Along with naming its editorial picks for the top apps and games of 2021, Apple today shared charts for the most downloaded free and paid apps and games in the United States across 2021.
The number one most downloaded free iPhone app was TikTok, followed by YouTube, Instagram, Snapchat, and Facebook. The top paid iPhone apps included Procreate Pocket, HotSchedules, The Wonder Weeks, and Touch...
Apple's chipmaking partner TSMC has kicked off pilot production of chips built on its 3nm process, known as N3, according to Taiwanese supply chain publication DigiTimes.
The report, citing unnamed industry sources, claims that TSMC will move the process to volume production by the fourth quarter of 2022 and start shipping 3nm chips to customers like Apple and Intel in the first quarter of...
Tesla CEO Elon Musk has encouraged customers to buy the "Cyberwhistle" for $50 instead of Apple's much-discussed Polishing Cloth.
The product page, which Musk shared on Twitter on Tuesday evening, offers a limited edition stainless steel whistle with the same distinctive design of the Tesla Cybertruck:Inspired by Cybertruck, the limited-edition Cyberwhistle is a premium collectible made from ...
Apple today shared its 2021 App Store Award winners, highlighting the 15 best apps and games selected by Apple's global App Store editorial team. The top apps were chosen for their quality, innovative technology, creative design, and positive cultural impact.
"The developers who won App Store Awards in 2021 harnessed their own drive and vision to deliver the best apps and games of the year --...
Apple's next-generation MacBook Air is reportedly set to bring over many of the new MacBook Pro's features, with one noticeable omission, according to recent reports.
The latest MacBook Pro models feature a mini-LED "Liquid Retina XDR" display with deep blacks and support for up to 1,600 nits peak brightness. The display also features Apple's "ProMotion" technology, which is capable of...