Apple's stock market value falls below US$2 trillion

Apple Inc's stock market value fell sharply on Tuesday following its steep drop last year, putting it on track to end below US$2 trillion for the first time since June 2021.

Apple's shares fell 4 per cent to US$124.60 after Exane BNP Paribas analyst Jerome Ramel downgraded the company to"neutral" from"outperform," slashing his price target to US$140 from US$180, according to Refinitiv Eikon. At Apple's current stock price, the company is worth US$1.98 trillion, just ahead of Microsoft Corp , currently valued at US$1.78 trillion.

"They tend to skew to the high-end consumer device customer but even that demographic might be being affected by the high price of everything," Bokeh Capital Partners' Kim Forrest said.

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Apple's market value falls below US$2 trillion for the first time since 2021Apple's market capitalisation slipped below US$2 trillion on the first trading of 2023 as its stock fell nearly 4 per cent following a rating downgrade due to production disruption in China. Apple was the first company to hit US$3 trillion in market value on Jan 3 last year. Exane BNP Paribas ana
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Apple's market value falls below $2 trillion for the first time since 2021Apple Inc's market capitalization slipped below $2 trillion on the first trading of 2023 as its stock fell nearly 4 per cent following a rating downgrade due to production disruption in China.Apple was the first company to hit $3 trillion in market value on Jan. 3 last year.Exane BNP Paribas analys
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »