Apple stock (NASDAQ: AAPL) has been in free fall since mid-February due to the growing risk of coronavirus. On March 12, the stock fell 9.88% and closed the trading day at $ 248.23. The decline in stock is the result of the economic fallout due to the coronavirus pandemic. Broad markets also fell on Thursday, leaving nervous investors in panic. The Dow Jones Industrial Average fell more than 2,300 points or 9.99%. Notably, the Dow Jones hit its lowest level since June 2017. The S&P 500 and Nasdaq fell 9.5% and 9.4%, respectively, on Thursday.
At yesterday’s closing price, Apple’s stock was trading around 24.3% lower than its new 52-week high of $ 327.85. Additionally, the stock is trading around 45.8% higher than its 52-week low of $ 170.27.
Apple market capitalization
Apple’s stock market value on Thursday was around $ 1.09 trillion. Apple is one of the most valuable companies in the world. However, the market value of the business has dropped significantly from last month. As of February 12, Apple’s market capitalization was nearly $ 1.4 trillion. The value has also fallen since the start of the year due to fears about the coronavirus. The company’s market capitalization was $ 1.29 trillion as of December 31, 2019.
Microsoft (NASDAQ: MSFT), another trillion-dollar software company, has also lost significant value due to the coronavirus. Currently, Microsoft has a market value of $ 1.06 trillion. Amazon (NASDAQ: AMZN) and Google Parent Alphabet (NASDAQ: GOOGL) are no longer in the trillion dollar club. While Amazon has a market cap of $ 834.6 billion, Alphabet is worth $ 765.1 billion on Thursday.
I think Apple may soon lose market value due to the growing coronavirus epidemic.
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