23.03.2020 Apple Daily Analysis

23.03.2020 Apple Daily Analysis

Apple is trading at 229.24 today, it went down with 15.54 from 244.78. This is mainly because U.S politicians failed to agree on the terms of a funding package of more than $1 trillion, resulting in it not getting enough votes in the key Senate procedural vote. This Happened as Trump pledged to send in national guard into Washington, California and New York since they are declared disaster. This However caused the USD to weaken making most of the USD stocks fall as well as Apple. More so Apple has dropped a two-device limit on online purchases of iPhones, amid coronavirus pandemic. It also announced that it will shut down all its brick and motor retail stores outside mainland China, Taiwan, Hongkong, and Macao in effect switching purchases to its website. This, however, affects the supply and demand chain hence the fall of the stock share.