The coronavirus pandemic has not only led the world to go on lockdown, but it has also affected the economy. And while Apple is planning to expand its business worldwide, it is no longer a trillion-dollar company.
AAPL saw a 3% drop on March 23, losing its $1 trillion market value. It makes Microsoft the only U.S. company still above $1 trillion valuations.
Apple’s Stock Crashes.
Apple reached the $1 trillion mark in December 2019. But the coronavirus outbreak has led to a massive fall in Apple’s stock. On Monday, the company saw a drop of 2%, hanging around the $220 mark.
Just last month, Apple had one of the highest marks at $327. But the constant drop in the share market has led to a decline in Apple’s market cap as well. It’s now dropped to $965-$975 billion, experiencing a loss of around $468 billion.
Microsoft’s shares have dropped too. But it has still managed to maintain it’s 13-digit valuation compared to Apple.
As of March 24, the entire U.S. share market saw a rise. And with that, Apple’s share went up 5%. The mark is now $235, and the company is back in the $1 trillion valuations.