Apple's Stock Price Experiencing Major Fluctuations Amid COVID-19 Coronavirus Outbreak

[MacRumors]

Apple's stock has been on a rollercoaster ride today since opening at $257.26, with shares rising as high as $278.41 within a span of a few hours before quickly plummeting as low as the $260s. At times, the price has swung by as much as $10 in both directions in a matter of minutes in what has been a volatile trading session.

Apple's stock is still down significantly from its all-time high closing price of $327.20 on February 16, just over two weeks ago.

Apple's performance is in line with a broader selloff of Dow Jones stocks that analysts believe stems from concerns over the COVID-19 coronavirus outbreak. The virus has infected at least 80,000 people worldwide, resulting in at least 2,800 deaths, according to the latest data compiled by Johns Hopkins University.

The coronavirus outbreak prompted many of Apple's suppliers to suspend production at their factories in China last month, while Apple also temporarily closed its retail stores across the country out of an abundance of caution, leading the company to issue a rare revenue warning for the March quarter early last week.

While many of those factories and stores have since reopened, with measures in place such as limited production and reduced hours, there remains a lot of uncertainty over the COVID-19 situation and that appears to be impacting major stocks, ranging from Apple to Coca-Cola to Disney.

Apple CEO Tim Cook on Thursday said he feels that "China is getting the coronavirus under control," adding that the number of reported infections in the region is "coming down day by day by day."

Article Link: Apple's Stock Price Experiencing Major Fluctuations Amid COVID-19 Coronavirus Outbreak

 

[iFan]

Professional traders are having the best week of their lives! (buy and hold for 10+ year investors having some indigestion)

 

[newyorksole]

Ugh I wish it could just get back to $327 Lol.

Every day there’s another article about this virus. I hope it gets halted soon.

 

[djcerla]

Living in Italy I can attest the degree of pure panic this virus can bring.

Supermarkets shelves emptied, schools closed and everything.

Should the US and other nations start extensive testing it’s very likely to see similar outcomes. It’s a good moment to stay at the sidelines of the market.

 

[Cole Slaw]

Poor Apple, their stock suffering from this Coronavirus outbreak!
Oh, and all the people that died, too.

 

[julesme]

I could have sworn that was somebody’s artistic interpretation of a coronavirus-infected Apple in the picture above. Possibly a Rorschach test for current anxiety levels around the world?

 

[Mutepointer]

It really is frowned upon to blame a laboratory made BioWarwarfare on stocks and share price drops.

 

[Cosmosent]

If audience participation in this year's March Madness is curbed, the entire stock market will take another BIG leg down !

Selection Sunday is March 15th, with the first games shortly thereafter.

I believe this "could be" the first BIG event here in the States that is impacted, & ALSO which completely shocks the nation (if it is) !

 

[matthew12]

This is happening to every stock. Honestly, I'd rather we care more about the people that are sick and dying than the stock market that'll probably be back to normal in a few weeks-months.

 

[routine_analyst]

Time to diversify the supply chain, Timmy!
Even though "only Chinese hands are capable of building Apple products."

 

[california_kid]

What the heck is that image all about? An apple covered with snot and phlegm? Funny.....

 

[Professor Rucy]

What a great opportunity for Apple’s stock buyback program—buy stocks at a lower price now, knowing full well when this panic rolls over, their profits will continue to grow. There is quite an opportunity in this financial meltdown but stupid casual investors can’t see past tomorrow.

 

[69Mustang]

This is happening to every stock. Honestly, I'd rather we care more about the people that are sick and dying than the stock market that'll probably be back to normal in a few weeks-months.

It's entirely possible to do both. In fact, I'd wager that most people are doing just that: caring about the human element and the ancillary business ramifications. This topic just happens to be about one of the business ramifications. Discussing it doesn't lessen the importance of the human element.

In a discussion with my mother-in-law, saying how much I love my wife does not mean I don't love my girlfriend, her sister, or their older cousin Margaret. Oh, and my dog Max. I love them all equally (ngl, prolly love Max more - just in a different way). Point is, I can discuss one thing and feel some kinda way about another thing without talking about it.

 

[Regbial]

"hurr I'm comfident our buddy China's keeping it under control" - Timmy Cook (yeah that's why the government held a massive banquet within 5 miles of the origin of the virus, already having been reported days before... because they care so much .... oh wait it's when money and investors are involved that they care... I forget.)

 

[DevNull0]

Apple's stock is still down significantly from its all-time high closing price of $327.20 on February 16, just over two weeks ago.

So...what's your definition of 2 weeks? Mine's 14 days.

 

[lixuelai]

People that keep saying that China is fudging the numbers to look good need a reality check. It is either 1) total lockdown is having an effect in getting the virus under control or 2) the numbers are cooked and it’s spreading like wildfire. Now, think for a bit, what’s the point in arguing over this if 2 means we are screwed anyway...

 

[pacalis]

Apple's future has never been more promising. And this is a historically do nothing quarter. Unless the whole world collapses, this is becoming a good time to buy in, for the company or individual investors.

 

[kanki1985]

Its surprising that Cook said infections are coming down when WHO raised the risk level to Very High today.. Wonder who is correct here...

 

[mi7chy]

You have to give credit to Warren Buffett and Tim Cook for trying to pump up AAPL with doctored news of switching from flip phone to iPhone, best business, COVID-19 under control, etc. while the whole market is reversing.

 

[jonnyb098]

This thing has been so overblown it’s beyond belief. Many many more people die from the regular flu every year. And all flus always kill the elderly first just like the OMG COVID19.

 

[PBG4 Dude]

Professional traders are having the best week of their lives! (buy and hold for 10+ year investors having some indigestion)

Nah. I rode the market to Dow 6500 in early 2009. This is just a blip and a buying opportunity.

 

[unobtainium]

The virus is very unfortunate but it will eventually pass, and this is a good time to buy into the market and hold for the long term. Just don’t buy if you need to cash out in the short term.

 

[Duane Martin]

Time to diversify the supply chain, Timmy!
Even though "only Chinese hands are capable of building Apple products."

Apple's supply chain is diversified with products built all over the world, including in the USA. China is one part of that supply chain which is being adversely effected. BTW, so is South Korea now and I suspect we are not done with the spread. But thanks for the completely uninformed and inflammatory comment.

 

[44267547]

Apple's future has never been more promising. And this is a historically do nothing quarter. Unless the whole world collapses, this is becoming a good time to buy in, for the company or individual investors.

That’s exactly what I plan to do. I sold out of Apple stock three years ago when I liquidated almost everything in August 2017 and I completely regretted every day after that. Right now, I think it’s the time to actually buy back in given all these ‘tremble fears’ of the economy and Apple plunging with the supply/manufacturing concerns.

It’s funny, because before this article surfaced, I was just thinking about now is the time to ‘buy back’ in.

 

[cocky jeremy]

People are being so dramatic over this virus.