Apple’s Stock has recovered following Coronavirus Warning

A deeper impact was felt for the next month, dropping the stock to a low of $229.24. The stock resumed a generally upward trajectory in late March. Though it was slow to return to the trillion-dollar level, it managed to do so in April.

The rebound of the share price is one indicator in the market’s faith in Apple’s revenue, despite the ongoing epidemic. Shortly after the guidance changes, analysts offered their takes on the earnings miss announcement, with the general theme being the suggestion it was a short-term problem with no long-term concerns for the company.

The immediate drop of 2.5% of the share value was considerably less than felt after a similar announcement of missed earnings in early 2019. In that notice, which related to lower than anticipated revenue, the drop was a far larger 8.6% at the start of trading, and even went down further after markets opened for the day. However, the magnitude of that drop as compared to the coronavirus hit when all was said and done was much less.

In the time since the guidance correction, Apple has opened up multiple retail stores in China, and across the world that it had closed in February as a preventative measure. Stores are serving customers with limited business hours, temperature checks performed on visitors, and maximum occupancy limits.