Apple has lost $1 trillion in market value over the last year, as the tech company faces its worst decline in months.
The tech giant’s market cap dipped below $2 trillion on Jan. 3 for the first time since May 2021, one year to the day after it became the first publicly traded Silicon Valley company to be valued at $3 trillion.
Shares of Apple Inc. were down 3.7 percent, over news regarding weakening consumer demand for its products.
The sell-off wiped out $85 billion in market value for the smartphone maker.
Like the other big tech companies, Apple has been faced with supply chain difficulties and recession fears, which have taken a toll on advertiser and consumer spending….