News Article # 1 – Apple’s coronavirus warning just shaved $34 billion off its stock market value
Date: Feburary 18th, 2020 (article written by: Julia Horowitz)
Link – http://ca.reuters.com/article/technologyNews/idCABRE9880TG20130909
Summary – Ever since the coronavirus outbreak, companies all over the world have been negatively affected, Apple is no other. Apple stores(42 stores) in China have been temperately closed down. Not to mention the production of Apple products will and continue to decrease. These problems have been showed in number since Apple’s shares have fell 2.6% resulting in the company loosing $34 USD ($4,497,290,000 CAD)
Video 1:https://www.youtube.com/watch?v=SgxPsPKBVhs&feature=emb_logo
Stakeholders:
•The Company (Apple): This party is the most affected by this issue because they need to go out of their way to protect others but in return receive a loss. Apple temperately closed down their stores both to protect the employees but in return they are losing out on money and units being sold. But, on the other side, Apple has done this because they could be saving money. Now you may be thing how can Apple make money with their stores closed, they can pull this off because people are no longer going out in the public to protect themselves from the virus and visiting the Apple store is no different and also, they can save money buy “lay-offing” employees.
•Employees: Employees of Apple in China are “lay-offed” by the company resulting in them not making any money; or close to nothing. This can be both good and bad thing. Why it can be a good thing is because these employees(with no job) are no longer making human contact protecting them from potential coronavirus infected people. Moving on to the bad spectrum of this crisis includes people suffering financially. Struggling financially because you have no income in a situation where you need medicine, or need amenities to protect yourself from a currently incurable virus is terrifying.
•Consumers: Consumers play a huge role for Apple since they need consumers to make money. Now with consumers not buying anything or not having the ability to purchase items is a lose for both parties.
•App Developers: This is a small issue/subject because app developers in China who have the potential to create something entertaining or revolutionizing no not have an outlet to show the public.
Questions:
- When will Apple re-open their stores?
- Will Apple re-make the money they have lost?
- How will Apple promote customers to purchase their products? What steps will they use?
Sukhdeep Chopra
Sukhdeep Chopra's Blog 