$45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement | |||
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 $45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement$45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement The market wipe-out equates to a 3.2 percent tumble of Apple shares. Apple's first-quarter earnings beat expectations. The company announced on Monday that it would not make its revenue expectations for the fiscal second-quarter. The tech giant stated that due to the coronavirus outbreak, its global iPhone supply was "temporarily constrained." According to Apple, production lines "are experiencing a slower return to normal conditions than we had anticipated." Other global companies affected dramatically by the outbreak include Starbucks and Tesla. The death toll due to the virus reached 1,873 people on Tuesday. |
