The loans were provided by Apple Financing, an Apple subsidiary, with no fees or interest charged. This was an attractive proposition for borrowers, who could access cheap loans in a ‘higher for longer’ interest rate environment. However, the tech giant has now deemed the scheme unfeasible, deciding to withdraw it only a year after its launch.
It has now recovered slightly, with the total value of LSE-listed companies increasing from $2.82tn in November 2022, the moment it was initially overtaken, to $3.18tn at time of writing. Despite this, the gap between the continent’s two largest exchanges has diminished significantly. As of June 17, it was $50m, compared to a difference of $1.4tn in 2016.
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