SPVI Jumps 4% Despite Apple Expecting to Miss 2Q20 Revenue Forecast due to Virus Outbreak

The share price of S P V I Public Company Limited (SPVI) surged ฿0.16/share or 4.88% to ฿3.44/share, defying negative sentiment over Apple Inc.’s statement on Monday, saying that it expected to miss the revenue forecast. The increase of SPVI’s share price could be due to its nearly 70% increase in 2019 net profit which had announced on February 14.

 

Apple Inc. said yesterday that the company does not expect to meet its revenue forecast in the second quarter of 2020, ending March 31 due to coronavirus, which will limit Apple’s production, especially iPhone, and limit product demand in China.

“Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors,” said Apple in the statement on Monday.

 

Just last month that Apple reported its financial results for the first quarter of 2020, covering the period between October 1 to December 28, 2019, at $91.8 billion in revenue, beating all expectations from analysts.

 

On the other hand, Com7 Public Company Limited (COM7) and SYNNEX (Thailand) Public Company Limited (SYNEX) were facing a decline in today’s session with a loss of 3.81% and 0.81%, respectively.