Apple’s shares have taken a hammering over the weekend in after-hours trading, with the share price set to open on Monday morning at about $20 below its value at the end of trading on Friday afternoon, its biggest drop in five years.
The ongoing coronavirus crisis is affecting the stocks and shares of major companies once more, as investors worry about how COVID-19 is going to affect their holdings. Over the weekend, stockmarkets saw the value of shares fall, with Apple among the injured parties.
On Friday, Apple ended its trading day at $289.03, up from its starting price of $282, but down from Thursday’s closing price of $292.92. Trading over the weekend has seen Apple’s price fall further, with pre-market reporting indicating it will open at between $268 and $269, over $20 down from its starting price the previous day.
For context, Apple’s announcement on January 2, 2019 that it would miss revenue guidance resulted in an overnight intersession drop of $13.94 by the morning of January 3, representing a drop of 8.83%. If Apple’s shares open at $269.03 on Monday, a full $20 down from Friday afternoon, it would be the equivalent share value fall of 6.92%.
Read more at AppleInsider.com