COVID-19 impact: Apple temporarily lost $100 bn in stock value due to late iPhone launch
COVID-19 impact: Tech giant Apple temporarily lost close to $100 billion in stock value due to the late launch of iPhones. The company on Thursday reported the steepest quarterly drop in iPhone sales in two years. Apple fell over 5% at one point in after-hours trade, wiping $100 billion from its stock market value.
Even as booming sales of Macs and AirPods boosted overall revenue and profit above what analysts had expected.