Apple loses historic $3 trillion crown as sales disappoint:

Daily Current Affairs / Apple loses historic $3 trillion crown as sales disappoint:

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Category : National Published on: August 05 2023

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Apple no longer holds the historic market valuation of $3 trillion. Apple shares fell by 3.6% after the company reported third straight quarter with a revenue decline.
In its report, Apple posted its third straight quarter of declining sales, and predicted a similar performance in the current period.
More than $120 billion was wiped out from Apple's market capitalisation, taking it to $2.88 trillion. In June, Apple became the first company to hit $3 trillion valuation.