Author: Joe Rossignol
Apple's stock opened at $146.85 today and continues to trend downwards, with shares currently trading below the $143 mark in today's session. Apple's stock price has declined approximately 20% since closing at $178.44 on April 4.
The stock market has experienced broader losses since the start of April, with the S&P 500 down around 13% and the Dow Jones down around 8.5% over that period. Other tech companies are in a similar boat, with Google parent company Alphabet's and Microsoft's stocks also down around 20% since early April.
Apple has been financially successful during the COVID-19 pandemic, with the company recently setting a new March quarter revenue record of $97.3 billion. However, on an earnings call last month, Apple said supply constraints caused by COVID-related disruptions and industrywide silicon shortages were impacting the company's ability to meet customer demand, resulting in lengthy shipping estimates for devices like the MacBook Pro.
Tag: AAPL
This article, "Apple's Stock Down 20% Since Early April Amid Broader Market Losses" first appeared on MacRumors.com
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Apple's stock opened at $146.85 today and continues to trend downwards, with shares currently trading below the $143 mark in today's session. Apple's stock price has declined approximately 20% since closing at $178.44 on April 4.
The stock market has experienced broader losses since the start of April, with the S&P 500 down around 13% and the Dow Jones down around 8.5% over that period. Other tech companies are in a similar boat, with Google parent company Alphabet's and Microsoft's stocks also down around 20% since early April.
Apple has been financially successful during the COVID-19 pandemic, with the company recently setting a new March quarter revenue record of $97.3 billion. However, on an earnings call last month, Apple said supply constraints caused by COVID-related disruptions and industrywide silicon shortages were impacting the company's ability to meet customer demand, resulting in lengthy shipping estimates for devices like the MacBook Pro.
Tag: AAPL
This article, "Apple's Stock Down 20% Since Early April Amid Broader Market Losses" first appeared on MacRumors.com
Discuss this article in our forums
Continue reading...