Last Friday, Apple shares opened the last trading day of the week at $ 318.79. Tomorrow will be exactly a week later and Apple shares will be priced at $ 273.52, with trading starting on Friday. The $ 45.27 reduction is equivalent to a 14.2% weekly reduction. The surprising decline has to do with fears about the continued spread of the disease by coronavirus. In addition to some consumers who had to wait longer than expected to receive the requested iPhone, investors are perhaps the most affected by what is happening. The fall in Apple’s stock price could not be stopped by the optimistic words that came from Tim Cook’s mouth today.
Apple CEO Cook is optimistic that the worst of the corona virus is behind Apple
The Apple CEO spoke to Fox Business and said, “I think China is controlling the corona virus. If you look at the numbers, they return every day. And I am very optimistic about this. “The director added:” On the supplier side, we have suppliers, you know the iPhone is being built all over the world. We have important parts from the United States. If you look at parts made in China, we reopen factories. “Cook said then that Apple is in the third phase to return to normal. “
Does coronavirus affect iPhone 9 production?
You should remember that in late January, when Apple announced its fiscal results for the first quarter, the company published a broader forecast for second quarter revenue due to the rapidly spreading disease. And a week and a half ago, Apple further increased tax revenue for the second quarter, now below forecasts of $ 63 billion to $ 67 billion at the end of January. Apple’s share has dropped five of the past six days and all hedge funds that are worth their costs have a stake in the share. This means that Apple may still have a considerable disadvantage.
Apple is expected to hold a new product event on March 31. We were able to see the long entry level of the iPhone 9 (also known as iPhone SE2) greeting the light of day along with a new version of the iPad Pro. The latter will be equipped with a camera module similar to that used in the iPhone 11 Pro models and will include a flight time sensor (ToF). The latter measures how long it takes for an infrared beam to bounce off an object and return to the phone. The data can be used to produce enhanced AR capabilities and more.
During the event, which is potentially at risk due to the corona virus, Apple can also introduce a new headset, a new Apple iPod touch and a new Apple TV. Even though Apple is able to reveal all the new products it has in stock, the big question is whether it will be able to get the supplies it needs to build the other new products it will introduce. Trust analyst Ming-Chi Kuo says he expects Apple to sell between 25 and 30 million iPhone 9 units this year. For $ 399 the price of the 64 GB model, Apple could generate $ 12 billion in sales for the iPhone 9 just this year, as long as the corona virus does not force the company to make any changes to its plans. However, if you listen to Apple CEO Tim Cook, it certainly looks like he believes the worst is behind Apple.