Apple's $3 Trillion Valuation May Be Gone for Good
Shares of Apple (NASDAQ: AAPL) slipped last week following a quarterly report that was mostly bad news. Revenue slumped, operating income was down, and the iconic iPhone suffered a sales decline. Apple's sprawling services segment was a bright spot, but it wasn't enough to push the headline numbers higher.
Apple stock had been rallying this year, briefly pushing the company's market capitalization above $3 trillion. Shares have now dipped below that level. Given Apple's optimistic valuation, the stock may be stuck for quite some time below the $3 trillion mark.
The pandemic is over, and that's not good news for sales of Apple products. Consumers aren't snapping up iPhones and Macs like there's no tomorrow anymore.
Source Fool.com
Apple Inc. Stock
€189.52
0.280%
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