What you need to know
- AAPL has seen more losses today.
- It's currently around 3% down and at around $220 per share.
- That means Apple is no longer a trillion-dollar company.
It's been another bad day for AAPL, and it's only a few hours old. At the time of writing Apple stocks had seen a 3% fall, leaving them valued at around the $220 mark. That, in turn, means that Apple can no longer call itself a trillion-dollar company with Wall Street increasingly concerned about coronavirus.
This also now means that Microsoft is the one remaining US company that retains its $1 trillion valuation.
This, of course, isn't just a problem faced by Apple. Since the opening bell, we've been seeing stocks take a fall all over the technology sector. The S&P 500 has even managed to lose everything that it was able to gain since President Trump took office.
Apple currently has all of its stores closed – outside of Great China, at least – in an attempt to help slow the spread of coronavirus. That will have an impact on its revenues, although that is very much to be expected in the current climate.
There's no telling where the stocks will go from here, although south is a fairly good bet. The ongoing uncertainty surrounding coronavirus has seen technology stocks take a real hit of late, and there appears to be no sign of that stopping for some time yet.
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