$45 Billion of Apple
Market Value Wiped Out After
Coronavirus Announcement The market wipe-out equates
to a 3.2 percent tumble of Apple shares. Apple's first-quarter
earnings beat expectations. The company announced on Monday
that it would not make its revenue
expectations for the fiscal second-quarter. The tech giant stated that
due to the coronavirus outbreak, its
global iPhone supply was "temporarily constrained." According to Apple, production lines
"are experiencing a slower return to
normal conditions than we had anticipated." Other global companies
affected dramatically by the outbreak
include Starbucks and Tesla. The death toll due to the
virus reached 1,873 people on Tuesday.