Apple's market cap falls under $2 trillion as sell-off continues
Publishing timestamp: 2023-01-03 17:43:23
Summary
Apple's share price fell more than 3% on Tuesday, giving the company a market value under $2 trillion for the first time since May. This is due to Covid restrictions on its primary factory in China, rising interest rates, and declining consumer confidence. A recent report from supply chain analyst Trendforce said it saw Apple's iPhone shipments declining 22% in December quarter. Apple is the last big company to give up its $2 trillion valuation, and in 2022 it underperformed the S&P 500 index, which declined more than 18%.
Sentiment: NEGATIVE
Tickers: AAPL,
Keywords: stock markets, breaking news: technology, business, apple inc, iphone, business news, markets, technology,
Source: https://www.cnbc.com/2023/01/03/apples-market-cap-falls-under-2-trillion-as-selloff-continues.html