Apple’s market capitalization fell below $2 trillion for the first time in over a year on Tuesday, marking a loss of $1 trillion in market value in just one year. The drop in market value can be attributed to several factors, including supply chain issues and concerns about consumer demand. Apple’s manufacturing in China has
Apple’s market capitalization fell below $2 trillion for the first time in over a year on Tuesday, marking a loss of $1 trillion in market value in just one year.
The drop in market value can be attributed to several factors, including supply chain issues and concerns about consumer demand. Apple’s manufacturing in China has been impacted by a recent surge in COVID-19 cases, and a report also raised concerns about consumer demand for Apple products.
In addition, Apple recently notified several suppliers to produce fewer parts for popular products like AirPods, the Apple Watch, and MacBooks for the first quarter, leading to further concerns about demand.
While Apple’s market value has significantly declined, other major tech companies like Amazon and Facebook’s parent company, Meta, have seen even steeper percentage drops in their share prices over the past year.
