Apple loses $1 trillion status for now as coronavirus fallout slashes market

As the coronavirus pandemics continues on, AAPL is seeing further declines along with the rest of the market. This morning with the opening bell, Apple’s stock dropped another 3% which put the company below a $1 trillion-dollar valuation.

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Update 3/24: The entire US market saw a boost with the opening bell this morning tied to a potential rescue bill for the economy.

AAPL is up 5% at the time of writing at $235 a share, putting it back over the $1 trillion-dollar market cap mark.

Just after the markets opened this morning we saw the DJIA, NASDAQ, and S&P 500 indices, along with AAPL and most other stocks take another hit as the global health pandemic spreads.

At the time of writing, AAPL is hovering around the $220 mark, which is the value we saw Apple stock at in October of last year. That’s coming from a high of $327 just last month (which also happens to be the 52-week high).

The current share price puts Apple’s market cap at around $965-$975 billion (depending on source).

For now, it’s just Microsoft holding on to the remaining trillion-dollar valuation…

For the bigger picture, the economic impact has been so severe that the S&P 500 has dropped to the same value it saw back in 2017 when Trump took office.

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Avatar for Michael Potuck Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.