Apple’s stock price fell more than 3%, and its market value fell below $2 trillion

[January 04, 2023](Reported by Epoch Times reporter Gao Sugi) In intraday trading on Tuesday (January 3),apple incShares fell more than 3%, taking the iPhone maker’smarket valuefell below $2 trillion for the first time since May.

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In August 2020,apple incIt crossed the $2 trillion valuation mark for the first time as the outbreak boosted sales of computers and phones it uses for remote work and online learning in schools.In the January 2022 transaction, itsmarket valueAt one point it briefly topped $3 trillion.

Apple struggled with iPhone 14 Pro shipments during the holiday season as major factories in China were restricted by the COVID-19 outbreak. Investors are concerned about rising interest rates and falling consumer confidence, factors that could hurt demand for Apple Inc’s high-priced products.

A recent report from supply chain analyst Trendforce found that Apple’s iPhone shipments fell 22% in the December quarter. Apple has told suppliers to produce fewer components for products including AirPods, Apple Watch and MacBook laptops, the Nikkei newspaper reported.

Apple was the last giant company to fall below a $2 trillion valuation. Previously, Microsoft’s market value had also reached the two trillion dollar mark, but it fell back in 2022.

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The broader market fell on Tuesday, with the S&P 500 down nearly 1% in trading. Apple stock is trading at just over $124 per share. At that price, Apple would hit a 52-week low.

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In 2022, Apple will underperform the S&P 500. The latter fell more than 18%. In 2022, Apple stock is down nearly 27%.

Responsible Editor: Ye Ziwei#