Apple’s stock, at the time of writing, has dropped more than 4.75%, making it one of the biggest drops of the companies’ biggest drop since becoming the first company to have a market cap of more than $1 Trillion. This drop happened over the weekend of the 21st of February, with the market closing at $313.05 and opening on Monday at $297.27, falling more than 4% over the weekend. Today (02/25/20) AAPL stock has already continued to fall another 3.39% – continuing from the plummet from Monday – now being worth ~$288.09 (equivalent to December 26, 2019)
This came after the increased media scare of the Coronavirus, a virus targeting the immune system, supposedly originating in the city of Hubei, Wuhan, China after the consumption of contaminated meat in an illegal market. The now, pandemic, has created a public scare after spreading to more than 39 countries have at least one case of the virus.
Apple’s stock price is now equivalent to early January 2020, corrupting a steady growth pattern as seen from the market graphs of the last 6 months. With the recent news of Apple not being able to reach their earning objectives, investors, such as Warren Buffet, have made statements about how “Apple is one of the best businesses” as noted from a recent interview and despite this, have still said that Apple is a great company to invest in.
“If [Apple shares] weren’t so expensive, we’d [Berkshire Hathaway] be buying more”
He also stated: “I would love to see Apple go down in price” in a Business Insider interview in 2019.
With this news, many investors are looking to invest into AAPL, in hope of buying low and selling high, after the stock price continues to fall. However others are holding off, as it is speculated that the NASDAQ market, AAPL included, will continue to depreciate in value, until the Coronavirus scare has blown over and production of technology in China starts back up.
Finally, this comes with its own risk, and while Appleosophy would love to be able to give financial advice, we cannot professionally recommend any trading information, nor do we offer any trading signals.