Apple’s share price has fallen nearly 20% this year, has been named the world’s most valuable company

Consumer electronics giant “Apple” lost the title of the most valuable company in the world. (European news agency)

consumer electronics giantApple“(Apple) lost the title of the world’s most valuable company on the 11th, handing over the throne to Saudi Aramco (Saudi Aramco).

In January this year affected by the new crown pneumonia epidemic, technology stocks jumped, Appleshare priceIt once broke through a market cap of 3 trillion yuan during the session; Now it is affected by a number of factors like high inflation, increase in central bank interest rate and worsening economic environment.InvestmentPeople continued to sell technology stocks. Compared to the high of 182.94 yuan set on January 4 this year, Apple’s share price has fallen by almost 20% this year, and has fallen by almost 10% so far this month.

According to a FactSet survey, Saudi Aramco’s closing market value on the 11th was slightly less than 2.43 trillion yuan; Apple closed the day at 146.50 yuan, down 5.18%, and its market cap fell to 2.37 trillion yuan.

Apple’s share price continued to fall by 3.94 yuan, or 2.7%, on the 12th, closing at 142.56 yuan, the lowest since October 13 last year; Apple’s stock price fell 7.7% over the past two trading days, the worst two daily records since September 2020.

Saudi Aramco closed at 2.383 trillion yuan on 12th, as compared to Apple’s 2.307 trillion yuan, according to Dow Jones market data.

Nicolas Kolas, co-founder of research firm Datatrack Research, wrote, “For readers who remember the stock market from 2000 to 2002, you’ve seen this situation, if you haven’t entered the market, know that Apple’s decline today.” Risk aversion is. Part of a broader trend, not a downtrend in the market.”

Kolas said Apple’s recent stock price position is also what it is tracking the stock market.

Apple has been a prime investment target for individuals and institutional investors due to its general ability to weather the market storm, but investors seem to be re-evaluating their fondness for the iPhone maker.

On the 12th, Apple was the most active stock on the S&P 500 and the third worst performer on the Dow Jones Industrial Average.

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