Over the last month, we have been witnessing the stock market experience highly unstable values, the trade even had to freeze for 15 minutes last week as stock value fell down by 7%, due to the uncertain situation around the virus pandemic that is blocking the world. Now, AppleInsider reports that Apple’s stock value (on the stock market, Apple is registered as AAPL) had fallen 12.5% over the weekend. Reportedly, investors are concerned over the public health situation and those worries reflect on the stock market.
In order to protect public health, many public events had to be delayed or cancelled, including Apple’s WWDC; some expect delays of upcoming iPhones, and now Apple Stores outside of China are going to be closed until March 27. These events are leading some investors to believe that a recession may be coming.
On Friday, AAPL’s stock was at $277.97, but unfortunately, this morning, before the opening of the trade, it was below $240. Currently, Apple’s capitalization, meaning the amount of shares multiplied by the price of those shares, is at $1.06 trillion.
On the following graph, we can see how the stocks have been fluctuating this month, while investors are concerned with the outcome of the pandemic:
On March 12, Thursday, stocks were lower than they have been in a while for Apple. However, it’s not only Apple’s value that’s affected by the situation. Other tech giants, such as Google, Microsoft and Facebook, are also suffering declines in their stock value due to COVID-19.