Why Apple Stock Jumped Today
Shares of Apple (NASDAQ: AAPL) have jumped today, gaining as much as 7% but currently up 4% as of noon EDT. The broader market is rebounding from yesterday's historic sell-off over the ongoing novel coronavirus pandemic, and a Wall Street analyst also issued a call to buy Apple shares.
Apple has now reopened all 42 of its stores in China, Bloomberg reports. The company had closed its retail locations while the coronavirus outbreak was ravaging China, but the Middle Kingdom has taken extraordinary steps to curb the disease, and they seem to be working: The number of new cases in China continues to decline. However, the virus is now spreading like wildfire in Italy, which is now among the hardest-hit countries outside of China. The tech giant has closed all 17 of its Apple Stores in Italy indefinitely.
Image source: Apple.
Source Fool.com
