Apple stock is on its way to having its worst day since mid-March. Thus far today, AAPL is down nearly 6% as part of (and helping drive) broader market fluctuations. AAPL stock also fell on Wednesday and is down nearly 9% since Tuesday.
As CNBC points out, today is on track to be the worst day for Apple stock since March 16, when it fell 12.9% at the start of the COVID-19 pandemic and associated economic concerns. Apple isn’t the only technology company slipping today, though:
Apple’s drop is joined by its tech peers. Microsoft and Facebook dropped more than 4%. Alphabet, Netflix and Amazon were each down more than 3%. The S&P 500 tech sector traded 5.6% lower and was on track for its biggest one-day decline since June 11, when it fell 5.8%.
Apple doesn’t appear to be at risk of losing its $2 trillion market capitalization, which sits at over $2.1 trillion even after the stock price plunged by over 5%. Apple became the first public company to reach a $2 trillion market capitalization just last month.
Read more at 9to5Mac.com