Apple stock is heading for the worst day since mid-March. So far today, the AAPL is down to almost 6% as part of (and helps drive) major market fluctuations. The AAPL share also fell on Wednesday and is down 9% since Tuesday.
As CNBC points out, today is set to be the worst day for Apple stock since March 16, when it fell 12.9% at the start of the COVID-19 pandemic and associated financial concerns. Apple is not the only technology company slipping today:
Apple’s release will be joined by its technical colleagues. Microsoft and Facebook fell more than 4%. Alphabet, Netflix and Amazon went down more than 3%. The S&P 500 technology sector traded 5.6% lower and was on track for the biggest decline in a day since June 11, when it fell 5.8%.
Apple does not seem to risk losing its $ 2 trillion market value, which is above $ 2.1 trillion even after the stock price plummeted by more than 5%. Apple became the first public company to reach a market value of $ 2 trillion just last month.
On Monday, Apple shares officially began trading at a four-for-one split rate. AAPL ended the day up 3.39% after the split, but it has since erased these gains in the last two days of trading. There seems to be little direct reasoning for Apple’s slip in the last two days, but the overall market is down today as CNBC points out:
Shares fell sharply on Thursday as investors stopped in the wake of a recent rally to all-time highs. Tech, the market leader since the rebound began in late March, was the biggest survivor. The Dow Jones Industrial Average fell 542 points, or 1.9%. The S&P 500 slipped 2.6% and the Nasdaq Composite fell 3.9%. At one point, the Dow was down more than 800 points.
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