Mon. May 29th, 2023
Apple Technology company

Apple, the world’s leading technology company, has lost one billion or one trillion dollars in market capitalization in one year. After trading in the US stock market on Tuesday, the company’s market capitalization or market value fell below two trillion or two trillion dollars. This information has been highlighted in a report by US-based media CNN.

As the first technology company in the world, in 2021, Apple’s market capitalization exceeded three trillion dollars. Apple’s market capitalization peaked that year as the first company listed in the technology sector. Basically, when the share price increases in the stock market, the market capitalization of the listed companies also increases. And if the share price goes down, the market capitalization goes down. In early 2022, the company lost a large amount of market capitalization as Apple’s share price fell.

According to CNN’s report, Apple’s share price fell by 4 percent in one day yesterday. Meanwhile, Nikkei, the world’s leading economic media based in Japan, reported that the company has ordered suppliers who supply Apple’s popular products, such as Apple Watch, AirPods, MacBook, to make fewer parts. It is understood that this decision has been taken because the demand for these popular products of Apple is low. However, when asked about Apple’s statement on this matter, the company did not immediately agree to comment on it.

According to the report of CNN, like other companies in the technology sector, Apple is also worried about the fear of global recession. They believe that consumer demand may decrease due to recession. If the cost of living goes up, people will cut back on expensive products like the iPhone. Although Apple recently said ahead of several important holidays, they are seeing strong demand for new phones like the iPhone 14 Pro and iPhone 14 Pro Max. However, due to the disruption of production in China due to Corona, the supply of these phones is interrupted. However, Apple’s suppliers in China have now resumed full production.

Apple lost a trillion dollars in market value in one year, but other tech companies fared worse. Among them, the share price of Amazon fell by 50 percent last year and the share price of Meta, the parent company of social media Facebook, fell by 63 percent. There, Apple’s share price has fallen by 31 percent in the past year. As such, Apple shares are in a better position than Amazon and Facebook.