Apple shares close down more than 2% as market value falls below $1 trillion

At Monday’s close, Apple shares were down 2.12 percent at $224.37, with a market capitalisation of $1 trillion to $981.738 billion. On the morning of March 23, according tomedia, Apple last week imposed purchase restrictions on several of its products. For example, the new MacBook Air and Mac mini can order only five per user, the new iPad Pro (11-inch and 12.9-inch models) is limited to two per user, and the iPhone can only order two per user.

Apple shares close down more than 2% as market value falls below $1 trillion

At present, some of the restrictions in the Chinese market have not been lifted. In addition, there are certain purchase restrictions on the new iPad Pro, but the Chinese market is currently unable to order because the device is still waiting for approval in China.

On March 18th Wedbush, an international securities firm, predicted that the outbreak would have “clearly a significant negative impact on Apple’s business model for the foreseeable future” as the company’s retail stores outside China remain closed for a long time.

The 5G iPhone is not expected to be released this fall due to a similar global blockade and the “still normalizing” supply chain in Asia.