Apple Sheds $500B in Four Days, Slips to Third in Market Cap
AAPL sits 51% above its 52-week low of $201.5.
Summary
Apple has lost roughly $500 billion in market value over a four-session losing streak that began Wednesday, dropping it to third place among U.S. companies behind Nvidia and Alphabet. The stock was the only Magnificent Seven name in the red on Monday, extending a slide that erased its brief reclaim of the market-cap crown earlier in the week. This follows a series of headwinds including a 19% iPhone shipment drop in China, EU regulatory friction, and price hikes on Macs and iPads. The cumulative loss signals sustained selling pressure beyond the single-day rout in late June.
At the time of this announcement, AAPL was trading at $303.73 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.5T. The 52-week trading range was $201.50 to $344.57. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.