Apple's $3 Trillion Crown Slips As Disappointing Sales Take Toll
Portfolio Pulse from Bibhu Pattnaik
Apple Inc's market value has dipped below $3 trillion due to concerns over the company's fourth-quarter outlook and sluggish demand for smartphones and other electronic devices. The company's shares experienced a significant drop of 4.8%, leading to a market capitalization of approximately $2.85 trillion. Rosenblatt Securities downgraded the stock to neutral, citing a slowdown phase.
August 05, 2023 | 3:51 pm
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Apple's market value has dipped below $3 trillion due to concerns over the company's fourth-quarter outlook and sluggish demand for smartphones and other electronic devices. The company's shares experienced a significant drop of 4.8%, leading to a market capitalization of approximately $2.85 trillion.
The news directly mentions Apple and its disappointing sales and fourth-quarter outlook. This has led to a significant drop in the company's shares and market value, which is likely to negatively impact the stock price in the short term.
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