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Apple shares decreased by 5% due to poor revenue

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Apple shares decreased by 5% due to poor revenue
February 19
09:00 2020

At trade on Tuesday, the value of the shares of the American company Apple declined by 3.5%. Stock indicator contracts are also losing ground. So, Nasdaq, which also includes Apple, have lost almost 1%.

The company has told the investors that it will not be possible to achieve the expected revenue for the financial quarter. The reason was the coronavirus epidemic in China.

Enterprises that produce iPhone devices have already continued to work. They are located outside the Province of Hubei, the epicenter of the epidemic. But it is not possible to resume activity as fast as planned. Because of this, the supply of devices was limited.

China is the third largest market for Apple after the United States and Europe, where the demand for the company’s devices and products is still high.

Last month, the company reported on the expectations for quarterly revenue of $ 65 billion. The assessment was made on the basis of the assumption that the production would start work on February 10.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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