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Apple shares down 3.6%

Tue Feb 18, 2020
watermark Economic news

Stock prices of the American company Apple Inc are reduced today by 3.6% during preliminary trading. Even earlier, the stock drop exceeded 4%. The Nasdaq stock index, which calculates the company's securities, fell 0.9%.


The fall was caused by a warning from Apple that the company's revenue in the second fiscal quarter (ending March 30) would not reach the previously announced values ​​due to an outbreak of coronavirus in China. As you know, all Apple's manufacturing facilities are located outside of Hubei Province, which is the epicenter of the disease, and all of them have already resumed work.


However, the recovery is slower than planned, which has led to a temporary restriction in the supply of iPhone smartphones worldwide. At the end of January, the company gave a forecast in which it estimated revenue in the current quarter at $63-67 billion with the resumption of production by February 10.


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