The AAPL earning report came out and the news wasn't good. It came in below the level that the market had already priced into the stock, triggering a total market collapse.
AAPL earnings report came in below the level that the market had already priced into the stock
Apple, a technology company that manufactures personal computers and tablets, released its third-quarter financial report this week. Although the company's revenue and profit were up, its earnings came in below the level that investors had expected. As a result, the stock is down nearly five percent. This decline, though, hasn't changed the valuation of the stock. It's worth noting that the stock is currently trading at a price-to-earnings ratio of just under 18. The company has been hit hard by the recent global recession and could face even more financial challenges in the future.
There are a number of issues that could have a negative impact on the company's business, including the COVID-19 pandemic. The disease has spread across the globe, causing significant disruptions in the global financial markets, as well as curtailing economic activity in a number of countries. These disruptions are also likely to cause a delay in the production ramps of new products. In addition, protective public safety measures may restrict travel and freight services, and may limit the movement of products between regions. Regardless of the impact of these factors on the company's business, the Company is taking steps to protect its employees and customers.