Apple (AAPL) Stock Continues to Fluctuate Wildly

Apple (AAPL) Stock Continues to Fluctuate Wildly

Apple (AAPL) stock continues to take a battering along with the rest of the stock market, as part of a global financial meltdown caused by the coronavirus crisis.

On “Black Monday,” Apple’s stock price fell to $263.56 at the start of trading, after closing on Friday at $289.03. The downturn erased over $97 billion from Apple’s evaluation. The plunge was part of a wider fall in stock prices around the world, as investors continue to be concerned about the coronavirus outbreak, as well as an oil price crash.

Apple shares have recovered a bit overnight, based on premarket activity ahead of the opening of Tuesday’s trading session. Apple closed at $266.17 on Monday and has rallied a bit in the after-hours, with the price of Apple hovering at just above $276 at 8:00 A.M Eastern Time.

If that price holds on until the opening bell today, Apple will have recovered around two-thirds of the value it lost over the weekend, pulling within $120 of Friday’s closing price. If the stock holds on, it will mean it has recovered around 5% of its value overnight.

Monday’s plunge, dubbed “Black Monday” by some analysts, was part of a worldwide stock market plunge, as stock markets saw their steepest plunges since the 2008 financial crisis. (Via¬†The Guardian) While the fall was mostly due to the coronavirus, an oil price crash has contributed to the financial plunge.

Trading on Wall Street was automatically halted within just a few minutes of the market’s opening on Monday, due to the huge loss in value in such a short period of time.