08.05.2020 Apple Daily Analysis

08.05.2020 Apple Daily Analysis

Apple today is trading at $303.74, it is trading up with $3.11 mainly because Apple watch is the best selling smartwatch in the world, and investors are of the view that a critical new feature could boost Apple stock later this year. More so, Apple announced that it will be awarding $10 million to a maker of nasal swabs and other materials for collecting samples for Covid-19 tests in a move aimed at boosting the swab makers production to 1 million collection kits per week by early July. This award would help Murrieta, California based COPAN D diagnostics expand into a larger facility and create 50 new jobs in Southern California.  In California, COPAN Diagnostics makes specialized nasal swabs to collect samples for Covid-19 tests along with vials and sterile media used to transport those swabs to labs for testing.  The companies said Apple's help would expand production of sample kits destined for U.S. hospitals from several thousand per week to more than one million kits per week by early July. According to Apple's chief operating officer, the company feels a deep sense of responsibility to do everything they can to help medical workers, patients, and communities support the global response to COVID-19 and this however contributed to its shares to go up today.