Apple's $2 trillion market capitalization stands on shaky ground
Apple Inc.'s breakout as a company with a market capitalization of more than $3 trillion proved fleeting. Now its grip on the $2 trillion market value looks shaky, too.
After briefly surpassing the $3 trillion mark in January, the iPhone maker lost more than $800 billion in capitalization as tech stocks fell. Given growing concern that interest rate hikes by the Federal Reserve could send the U.S. into recession, a drop below the $2 trillion mark looks very likely. On Tuesday, Apple's capitalization was at $2.15 trillion.
This year's FAANG companies - Meta Platforms Inc, Apple, Amazon com Inc, Netflix Inc and Google Alphabet Inc - have lost a combined $2.6 trillion in market value. Amazon's capitalization is also close to falling below the $1 trillion mark, Bloomberg.
via.TITVN
