Apple’s stock market price has fallen more than 3% from its all-time high of $324.4 per share after a strong portfolio last week as investors worried how the spread of the coronavirus could impact the share market business.
The stock was still trading up to more than half a percent Monday morning around $311 per apple’s share. Its market cap still tops $1.3 trillion. But persistent concerns over the impact of the corona virus seem to have dampened some of the excitement over Apple’s product and earnings beat Tuesday that sent the stock soaring the next day.
China, an important market for Apple iPhone and a key manufacturing nation, has been the epicenter of the outbreak, which the World Health Organization labeled a global health emergency and DOH issued a Health Bulletin for the Public.
Apple CEO, Tim Cook gave a wider than the typical range of plans for the next quarter due to uncertainty caused by the corona virus. Still, Tim said the company’s “Greater China” market segment, including Taiwan and Singapore, had strongly returned to growth in the last quarter.
Using an Apple iPhone in China is now seen as embarrassing by some consumers, says a local media. The combined impact of Trump’s team trade war on China and export blacklisting of Huawei is further strengthening the ‘Boycott Apple’ movement in the country.
Image credits: iphonefirmware