Apple gets down from the $2 trillion market capitalization for the first time in 2021

Last year, it is reported that the most valuable brand, Apple got first place in the world with an estimated brand value of $3,23,000 million. The companies brand value has increased by 38% from the year 2019.

Although, the Cupertino-based US tech giant already surpassed a $2 trillion market capitalization doubling its value only in just two years.

According to a report of AppleInsider, Apple’s market capitalization dropped to below $2 trillion as shares declined more than 4 percent in intraday trading.

Join Our Apple Channel on Telegram

The Cupertino tech giant closed at $1.96 trillion and the shares of AAPL decreased 4.17 percent to $116.36 during trading on March 08. Apple’s market valuation is multiplied by the number of shares outstanding. Apple is the first US company to return to a $2 trillion market capitalization in August 2020.

The fall in Apple’s share price has led to a wide drop in technology stocks. Business insider says the NASDAQ 100 has fallen more than 10 percent since February 16, 2021. Analysts believe that investors are moving from tech stocks to value or cyclical stocks, which could benefit the upcoming financial resumption.

In September 2020, Apple lost $ 2 trillion in value and the company has a capitalization of $180 billion a day. Apple shares have risen 3.14% since the fall.

In the first quarter of 2021, Apple reported revenue of over $100 billion for the first time. The company’s Q1 2021 revenue grew 21 percent year-on-year to $111.4 billion.