Highlights

  • Apple stock below March low
  • Stock has lost over $200 billion in marketcap since the Fed raised rates

Latest news

Indian businesses can replace void left by Western companies in Russia, says Roscongress CEO Stuglev

Indian businesses can replace void left by Western companies in Russia, says Roscongress CEO Stuglev

Regulator DGCA eases flight duty norms for pilots amid IndiGo crisis

Regulator DGCA eases flight duty norms for pilots amid IndiGo crisis

Dalai Lama launches 'Forest Resources in India' focused on climate, conservation and community

Dalai Lama launches 'Forest Resources in India' focused on climate, conservation and community

RBI raises FY26 GDP growth projection to 7.3 pc

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AAP to hold farmers’ Mahapanchayat in Gujarat's Amreli on December 7 amid crop loss crisis

AAP to hold farmers’ Mahapanchayat in Gujarat's Amreli on December 7 amid crop loss crisis

OnePlus marks 12 years in India with a new six-star lineup for the 15R reveal

OnePlus marks 12 years in India with a new six-star lineup for the 15R reveal

India not neutral, it is on side of peace: PM Modi to Putin on Ukraine conflict

India not neutral, it is on side of peace: PM Modi to Putin on Ukraine conflict

Rory McIlroy Survives Cut at Dramatic Australian Open

Rory McIlroy Survives Cut at Dramatic Australian Open

Tech takedown: Apple is no longer the world’s most valuable company

Apple passed Saudi Aramco to become the world’s most valuable publicly traded company in 2020.

 

Tech takedown: Apple is no longer the world’s most valuable company

As technology share prices take a beating, the new market reality is reflect in Apple losing its spot as the world's most valuable company with oil giant Aramco reclaiming the title.

Also read/watch| Mass layoffs at American companies: Here is who is firing

Apple boasted a market value of $3 trillion, about $1 trillion more than Aramco’s at the start of this year. Since then, however, Apple has fallen nearly 20% while Aramco is up 28%. In fact since the Fed hiked rates, the iPhone maker has lost $200 million in market cap.

Tech index Nasdaq 100 has lost 24% in the year so far as the central banks end their ultra-easy money policy. Meanwhile, the S&P 500 Energy sector has soared 40% this year, as oil prices have rallied from $75 to $110 this year.

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Tech takedown: Apple is no longer the world’s most valuable company

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