Last Friday, Apple’s shares opened the final trading session of the week at $ 318.79. Tomorrow, it will be exactly one week later and Apple’s shares will be priced at $ 273.52 as trading opens up on Friday. The decline of $ 45.27 works out to a weekly fall of 14.2% The stunning decline has to do with fears about the continued spread of the coronavirus disease. Besides some consumers who have had to wait for a longer period of time than anticipated to receive the iPhone they ordered, perhaps investors have been the most affected by what has been going on. The tumble in Apple’s stock price could not be halted by the optimistic words that came out of Tim Cook’s mouth today.
Apple CEO Cook is optimistic that the worst of the coronavirus is behind Apple
Will the coronavirus affect production of the iPhone 9?
During the event, which might be at risk due to the coronavirus, Apple could also introduce a new pair of over the ear headphones, a new Apple iPod touch, and a new Apple TV. Even if Apple is able to unveil all of the new products that it has up its sleeve, the big question is whether it will be able to obtain the necessary supplies needed to build the other new products it will introduce. Reliable analyst Ming-Chi Kuo says that he expects Apple to sell 25 million to 30 million iPhone 9 units this year. At $ 399 a pop for the 64GB model, Apple could generate as much as $ 12 billion in iPhone 9 sales alone this year as long as the coronavirus doesn’t force the company to make some changes to its plans. If you listen to Apple CEO Tim Cook though, it sure sounds as though he believes that the worse is behind Apple.
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Read more here: PhoneArena