Apple’s $2 Trillion Market Valuation on Shaky Ground
- The iPhone maker’s shares have slumped 24% this year
- Estimates for quarterly earnings and revenue have dropped
Apple’s stock woes have intensified this year with a 25% slump.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Apple Inc.’s run as a $3 trillion stock proved fleeting. Now its grip on a $2 trillion market value is looking wobbly, too.
After briefly surpassing $3 trillion in January, the iPhone maker has lost more than $800 billion in capitalization as tech stocks plunged. With concern growing that the Federal Reserve’s interest-rate increases could tip the US into recession, the $2 trillion milestone is looking precarious. Apple closed Tuesday at $2.15 trillion.