12.03.2020 Apple Daily Analysis

12.03.2020 Apple Daily Analysis

Apple went down from $285.34 to $275,43 by $9.91. The fall of the stock is mainly because of 17 retail shops that Apple closed in Italy due to the increase in coronavirus. This is the second time within a space less than two months that a country has shut down Apple stores for example China. Apple also reduced working hours in other locations in Italy and restrict employee travel within the country. More so, Trump canceled all flights from Europe in a bid to contain coronavirus. This, however, weakened the USD and caused all the USD stocks like Apple to go down.  In addition, the US senator calls for action on forced labor in China Xinjiang, which he claims Apple, Kraft Heinz, and Coca-cola companies are using.  He is of the view that the Commerce Department should stop American companies and consumers from buying goods produced by such labor. This, therefore, affects the supply and demand chain.