Apple's market capitalization has dropped below 1 trillion dollars. Market Leader reports that this summer, Apple became the world's first company to reach such a stunning result - market cap over 1 trillion dollars. Apparently, all of that became possible due to higher Apple stock prices.
Back in August, the stock cost 218 dollars per share, in early September it came close to 230 dollars per share, and then exceeded 232 dollars per share 4 weeks later. This was followed by several ups and downs but since the beginning of November, the stock has been going down in value. As for now, the value has dropped by nearly 10% since the October high. Monday's trading session closed at $201.3 per share.
Yesterday's trading session started with a 1,5% increase. Today, Apple's stock has already managed to regain a little bit more of the lost ground. At this point, it's trading close to $204 per share. The market capitalization is slightly over 984 billion dollars, which is still quite a stunning figure.
International experts say that the biggest reason why Apple's stock started going down in value was the information about poor sales of iPhone XR. For those of you who don't know, the sales were announced on October 30, right during Apple October Event 2018. They say that Apple's production capacities are currently functioning only to 75% because of increased expectations ans relatively low international demand.
