After it hit $1 Trillion market cap back in August, Apple's stock price saw a pretty strong over the two months, it even once worth $230 per share. However, since tech stocks and Dow industrials hit by their steepest October retreat since the financial crisis, AAPL posting that it lose 4.6% value today, which is currently sticks around $214.
WSJ points out that not only Apple hit by the decline, other companies like Netflix dropping 8.4%, Amazon declining 6.2%. In total, the three tech-giants shed roughly $120 billion in market value on Wednesday following the Dow sees 832-point decline.
The major factor of the decline relates to the concerns over the trade war with China that is also a threat to Chinese economy system. Also, the fact that lower iPhone XS sales in the country as well as the Bloomberg spy chip claims that all contributed the current declines. However, early-trading on Thursday seems the stocks is back on the right track.
The selling was led by the technology shares that have fueled much of the 2018 advance in U.S. stocks, with Netflix dropping 8.4%, Amazon declining 6.2% and Apple off 4.6%. Combined the three companies shed nearly $120 billion in market value on Wednesday.
Image Yahoo Finance
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