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The market value of the American company Apple’s shares fell below $ 2 trillion for the first time since March 2021. This was reported by Ukrinform with reference
This was reported by Ukrinform with reference to Reuters.
As noted, a year ago Apple became the first company to reach a market cap of $3 trillion.
Shares of the company fell 3.7% to $125.07 after Exane BNP Paribas analyst Jerome Ramel downgraded the company’s rating from “better performing” to “neutral” and lowered its price target from $180 to $140, according to Refinitiv Eikon. declined to .
The Nikkei also raises investor fears that the global economic slowdown and high inflation could dampen demand for Apple devices.
As a result of the drop in the price of Apple shares, its market cap was $1.99 trillion. At the same time, the agency writes that at the current price of Apple shares, the company’s value is slightly ahead of Microsoft Corp, which is estimated at about $1.8 trillion.
On average, analysts expect the company to report a 1% drop in revenue in the last quarter, according to Refinitiv. This will be Apple’s first quarterly revenue decline since January-March 2019.
The combined market capitalization of Apple, Microsoft, Amazon.com Inc, Alphabet Inc and Meta Platforms is currently around 18% of the S&P 500, compared to 24% in 2020.
As reported by Ukrinform, Tesla CEO Elon Musk was the first person in history to lose $200 billion. According to the Bloomberg Billionaires Index, Musk’s fortune has slumped to $137 billion after Tesla shares have slumped in recent weeks.
Source: Ukrinform
I’m Maurice Knox, a professional news writer with a focus on science. I work for Div Bracket. My articles cover everything from the latest scientific breakthroughs to advances in technology and medicine. I have a passion for understanding the world around us and helping people stay informed about important developments in science and beyond.
