Daily Management Review

Apple's market cap falls below $1 trillion


03/24/2020


On Monday, market cap of Apple Inc. fell below $ 1 trillion; Microsoft Corp. remains the only American company with a market value above this mark.



Apple Inc. shares became cheaper by 2.1%, reaching $ 224.37, at the end of the day.

The US stock market closed the next session with a decrease before the US watchdogs adopted a package of measures to support the economy in the context of the COVID-19 coronavirus infection pandemic.

Apple's capitalization has been above $ 1 trillion since last October. In February 2020, it was approaching the $ 1.4 trillion mark and since that moment has already fallen by 31%.

For comparison, the S&P 500 index fell by 34% over the same time.

Apple was one of the first companies to report the negative impact of coronavirus on its reporting. As early as February 18, the company warned that its revenue in the second financial quarter (ending March 30) would not reach forecasts due to an epidemic in China.

Among US companies whose capitalization has ever risen above $ 1 trillion, in addition to Apple and Microsoft, are Alphabet Inc. and Amazon.com. Microsoft's market value at the close of trading on Monday amounted to $ 1.03 trillion, Amazon - $ 947 billion, Alphabet - $ 725 billion.

Another company with a capitalization of more than $ 1 trillion is Saudi Aramco. The market value of the Saudi state oil company, which reached $ 2 trillion earlier this year, currently stands at about $ 1.5 trillion.

source: bloomberg.com






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