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Mar 23, 2020

Apple's value drops below US$1T, while Microsoft holds on

Shane Obata discusses Apple

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Apple Inc.’s market value fell below US$1 trillion as trading opened Monday, leaving Microsoft Corp. as the only U.S. stock above the 13-digit threshold.

Apple shares fell as much as 4.9 per cent at 9:40 a.m. in New York, bringing the iPhone maker’s market value to about US$960 billion. In the wake of coronavirus, the company has been hampered by supply-chain worries in China and has closed stores around the globe. The stock briefly dipped below the US$1 trillion level in the final minutes of trading on Friday, before paring losses to close just above it.

Apple shares have lost 25 per cent this year as the spreading coronavirus roiled global markets and curtailed economic activity. Microsoft has fallen 14 per cent, putting its market value at US$1.03 trillion.