Five Unicorns Lost $ 238 Billion Because of the Covid-19 Epidemic

According to CNBC, shares on February 24 of technology companies known as the “Big Tech” group were severely affected due to the Covid-19 epidemic changing unpredictably globally.

Specifically, technology companies including Apple, Facebook, Amazon, Microsoft and parent company Alphabet of Google, have lost a total of more than $ 238 billion in market capitalization.

Apple is the most heavily affected by its reliance on factories and production lines located in China.

In the fourth-quarter business report of 2019, Apple sets a revenue target of US $ 63-67 billion in the first quarter of 2020. CEO Tim Cook said the $ 4 billion difference in the forecast will depend on the disease outbreak caused by the coronavirus.

Representative Foxconn, one of Apple’s largest suppliers, admitted it took at least a month to restore the production line. It is likely that the first batch of the new iPhone generation will be in stock until April when production is back to normal.

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