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Apple Market Cap Falls $1 Trillion In Just One Year

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For the first time in a while, since 2021's early days, Apple's market cap dipped to below $2 trillion during trading on Tuesday.

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One year following its founding as the first tech company to be publicly traded, valued at $3 trillion.

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The fall resulted in only 1 year, and the technology firm lost $1 trillion to market capitalization.

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Like many other tech companies, Apple has been impacted by supply chain problems.

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The manufacturing industry in China is in decline because of a new wave of Covid infections in the one major economy fighting this crisis.

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The logistics issues in China have also forced Apple to rethink its manufacturing strategies and even relocate its facilities out of China.

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Apple's shares fell by almost 4 per cent following an article that raised doubts regarding the consumer demand to purchase its items.

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Apple recently advised several suppliers that they would be making fewer parts for its most loved devices for the initial quarter...

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which includes AirPods as well as Apple Watch, and MacBooks.

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The reports have raised questions regarding the demand for Apple products too.

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