(Bloomberg) — Apple Inc (NASDAQ:).’s market value fell below $1 trillion as trading opened Monday, leaving Microsoft Corp . (NASDAQ:) as the only U.S. stock above the 13-digit threshold.
Apple (NASDAQ:) shares fell as much as 4.9% at 9:40 a.m. in New York, bringing the iPhone maker’s market value to about $960 billion. In the wake of coronavirus, the company has been hampered by supply-chain worries in China and has closed stores around the globe. The stock briefly dipped below the $1 trillion level in the final minutes of trading on Friday, before paring losses to close just above it.
Apple shares have lost 25% this year as the spreading coronavirus roiled global markets and curtailed economic activity. Microsoft has fallen 14%, putting its market value at $1.03 trillion.
©2020 Bloomberg L.P.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment