Apple is among the world’s largest tech companies. It is the most profitable. It also has the highest market cap among all US-based public corporations at $2.1 trillion. While its stock has fallen with the market, the sell-off is not nearly as bad as other mega-cap tech companies.
Apple faces a drop in the number of products it sells in China due to a raging spread of COVID-19, affecting millions daily. And the same pandemic could shutter factories that assemble its products. This will cause customers worldwide to wait long periods when they want to buy an Apple product. Apple faces a perfect storm unlike anything in the recent past. This could trigger a sharp drop in its share price.
This post originally appeared at 24/7 Wall St.