Following the release of the iPhone SE, despite continued downgrades in firms and banks, Apple’s stock today hit a one-month high toping at one point $287. While this is worth celebrating for this month, the current global economic landscape is going to challange Apple and its ability to squeez money out of customers like never before.
Apple has been hard hit by the COVID-19 crisis, having to shut down stores around the world, forcing staff to work from home, and it’s suppliers in China, the country first most hard hit by the pandemic having to close their doors.
Earlier in March Apple cut down revenue forecasts for this quarter citing unforeseen events and overall market instability. Quickly following, Apple saw a nosedive in the market with banks downgrading the companies price target.
Despite what is probably going to be disappointing quarter, Apple is expected to reveal this quarters earning on April 30th, which Apple Terminal will provide live coverage for.