19.03.2020 APPLE Daily Analysis

19.03.2020 APPLE Daily Analysis

Apple today it’s trading at $246.67, it went down with $6.19 from $252.86. All USD stock markets are going down due to the press statement that Trump put out yesterday as a measure to contain the coronavirus. He announces that he will be invoking the Defence Production Act to mobilize U.S private production capacity to combat the coronavirus outbreak. This Defence Production Act enacted in 1950, allows the president to force American business to produce materials in the national defence, such as ventilators and medical supplies for health care workers, this means instead of companies to produce to their full potential, they are now only restricted to produce for the national defence. He said he is suspending all foreclosures and evictions until the end of April to help those affected with the coronavirus. This has however affected USD stocks negatively hence the reason why it is trading $6.19 lower than yesterday. More so the fact that all its retail companies are temporarily closed at the moment its still affecting supply and demand negatively hence the fall of the share.