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Apple stock has fallen 20% since early April

Apple’s share price in today’s session fell to $146.85 and continues to fall, currently the shares are trading below the $143 mark.

The stock market has suffered more significant losses since early April, with the S&P 500 down about 13% and the Dow Jones down 8.5% over the period. Many other tech companies are in a similar situation, with shares in Google’s parent company Alphabet and Microsoft also down about 20% since early April.

Apple has been financially successful during the COVID-19 pandemic, with the company recently setting a new March quarter revenue record of $97.3 billion. However, during an earnings call last month, Apple said that supply constraints caused by COVID-related disruptions were and component shortages have impacted the company’s ability to meet customer demand, leading to delays in deliveries for devices such as the MacBook Pro.

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