Apple's Stock Has Plunged 25% in Just Over One Month Amid Coronavirus Pandemic
Apple's stock opened at $241.31 today, down over 25 percent from a closing price of $327.20 on February 12. After the opening bell, stock market trading was automatically suspended for 15 minutes due to an over seven percent decline in the S&P 500.
Apple's stock price has seen wild fluctuations due to the COVID-19 coronavirus pandemic, with shares now rebounding above $250 on the intraday market.
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Apple shares fell more than 2.5% in early trading today in response to Nikkei Asia's report that the company is cutting iPhone 18 Pro component orders due to weaker-than-expected demand. October orders were reportedly reduced by at least 15%, with higher memory costs and $100 price increases weighing on...
Apple today closed with a market capitalization above $5 trillion, making it the second company to do so after Nvidia.
As noted by The Wall Street Journal, Apple's market cap has exceeded $5 trillion six times before today during intraday trading, but this is the first time the company stayed above the mark at closing.
Apple closed at $342.96, for a market cap of $5.005 trillion. The new...
Loop Capital has lowered its rating on Apple from "Buy" to "Hold," saying the company is unlikely to make up an estimated 13 million iPhone shipments cut from its plans for the second half of 2026, according to Investing.com.
The firm reduced its Apple stock price target from $370 to $330. Loop previously believed shortages of memory and processors had delayed shipments that Apple would...
