Business, Finance & Tech
Apple has lost $1 trillion in market value in a year
(CNN) — Apple’s market cap fell below $2 trillion in trading Tuesday for the first time since early 2021 and one year to the day after the company became the first public tech company valued at $3 trillion.
Shares of Apple were down more than 4% in midday trading Tuesday after a report raised concerns about consumer demand for its products. Nikkei reported that Apple had recently notified several suppliers to build fewer parts for some of its most popular devices for the first quarter, including AirPods, the Apple Watch and MacBooks.
Apple did not immediately respond to a request for comment.
Like other tech companies, Apple has grappled with supply chain hiccups and concerns that recession fears could weigh on advertiser and consumer spending, including for pricier products like the iPhone.
Ahead of the all-important holiday shopping period, Apple said it was experiencing “strong demand” for iPhone 14 Pro and iPhone 14 Pro Max models but it expected lower shipments than anticipated due to Covid-related disruptions at a supplier in China. (Those operations are now said to be running at nearly full capacity.)
While Apple’s market value has fallen considerably, other big tech companies have suffered steeper percentage declines. Shares of Amazon and Facebook-parent Meta are down by about 50% and 63%, respectively, over the past year. Apple, by comparison, is down by about 31% over the same period.
Still, Apple now joins Amazon in an exclusive club no one wants to be part of: companies that have lost $1 trillion in market value.
The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
By: Ceci Partridge
January 3, 2023
Latest Instagram Posts
Who makes the NBC Top 3, winner will be announced Sunday night on NBC Palm Springs, with the player who makes the number one spot winning a $250 prize from @hondaofthedesert! Comment below if it will be 1) Sterling Conley with the rushing TD, 2) Marcus Kennedy with the touchdown catch, 3) Cade Pinon with the big time sack, 4) Kingston Pellum with the pick-6, or 5) Caleb Hartwell with the saving throw #fypage #fridaynightlights #football #hondaofthedesert #highschoolfootball
James Nellis from @dsrt_club_lq and @rd_rnnr_lq makes us one of his signature dishes, his Maine scallops with hibiscus puree. His creativity and skill lead to unique bold flavors and scrumptious dishes. We chat about his love of trying new things in the kitchen, what being a chef means to him, and how food can different, flavorful, and fun. This is James Nellis on a plate. See it now on nbcpalmsprings.com
At the annual 9/11 Memorial Stair Climb at Morongo Casino Resort & Spa, first responders, families and community members came together to honor the lives lost—and the heroes who answered the call 25 years ago on September 11, 2001. Two first responders who responded to opposite sides of the World Trade Center met for the first time at the event, sharing a powerful moment of remembrance and connection. 26 flights. Three times. One enduring message: Never Forget. #NeverForget #September11 #911Memorial #MemorialStairClimb #FirstResponders HonorAndRemember 911
Palm Desert’s future takes center stage next week. The Palm Desert Area Chamber of Commerce presents the 2026 State of the City Address & Luncheon on Friday, September 18, at the JW Marriott Desert Springs Resort. The event brings together local business leaders, community members and city stakeholders for an inside look at the priorities, opportunities and future of Palm Desert. Friday, September 18 11:30 a.m. – 1:30 p.m. JW Marriott Desert Springs Resort Palm Desert Individual tickets are $85 for Chamber members and $95 for non-members. Get the details and registration information from the Palm Desert Area Chamber of Commerce. #PalmDesert #StateOfTheCity #CoachellaValley #PalmDesertBusiness #GreaterPalmSprings #PalmDesertChamber
25 years later, the memories of 9/11 remain vivid for the firefighters who witnessed the tragedy firsthand. A longtime FDNY firefighter reflects on the trauma, loss and moments that have stayed with him a quarter-century after the attacks. #911 #September11 #NeverForget #FDNY #Firefighter #911Anniversary #25YearsLater #NewYorkCity #Remembering911 #NBCTPalmSprings
A troubling history is coming to light in a Palm Desert husband’s death. 65-year old Vicky Kim is accused in the death of her husband — but prosecutors say she had previously faced several domestic violence cases involving him. The Riverside County District Attorney’s Office says it had secured protective orders against Kim before a judge later resolved her cases as misdemeanors, released her from custody and terminated those orders. Now, Kim is expected to be arraigned in connection with her husband’s death. Court records allege the weapon used was a flagpole.
☕️🔥 How hot is TOO hot? A new study finds that drinking scalding-hot beverages may be linked to nearly 3 times the risk of esophageal cancer—the most common type of cancer affecting the esophagus. The takeaway? Let that coffee, tea or other hot drink cool down before taking a sip. ❤️ #HealthNews #EsophagealCancer #CancerRisk #HotBeverages #Coffee #Tea #CancerAwareness #HealthyHabits #HealthTips
☕️ Social Time with Thalia & Jerry. The squishy craze!
Coachella city council unanimously approved an anti-nepotism rule that ban an any Councilmember from appointing a family member or household member to the city’s commissions and committees. Tune in to our 11 p.m newscast as our @newsbyalondra breaks down the policy.
An anti-nepotism rule will be discussed and voted on at tonight’s Coachella City Council meeting - that would ban city council members from appointing their own family members or household members to commissions and committees. Tune in to our 8:30 p.m newscast and our socials and website as our @newsbyalondra brings us the latest details on that final vote.