Media: Apple's Stock Price Drops nearly 2% due to Coronavirus
According to data posted on the NASDAQ electronic exchange website, by the close of trading on Tuesday, Apple's stock price fell $ 5.95 (1.83%) and currently stands at $ 319 apiece. At the close of trading on Friday, Apple shares were worth $ 324.95 per share, and by the opening of trading on Tuesday their value fell to $ 315.34. Apple said Monday that due to the coronavirus, it does not expect to achieve its intended profit margin in the quarter expiring in March 2020.
In the report for the first quarter of fiscal 2020, which expired on December 28, 2019, the company predicted that its revenue in the second quarter of fiscal 2020 will be up to $ 67 billion, and operating expenses would be in the range of $ 9.7 billion. According to the company, this is due to firstly, by restricting the supply of iPhone smartphones worldwide and, secondly, by a decrease in demand for Apple products in China.