President Trump’s declaration of a national emergency provided some much-needed relief to Apple’s stock price just before the market closed this afternoon.
Apple shares jumped up over $20 in value during the last 30 minutes of trading today, just after President Trump announced that the U.S. government will free up $50 billion in federal resources to combat the COVID-19 outbreak.
The spike in stock prices comes a day after the company saw its share values drop by $27.20, which was nearly 10% of their value the day before. Today’s rally makes up a lot of lost ground. Shares in the iPhone-maker had fallen $76.64 since February 13.
“This will pass, this will pass through, and we will be even stronger for it,” Trump said today during his national emergency address.
Read more at CultOfMac.com