Apple Store SeoulSource: Apple

What you need to know

  • AAPL has seen more losses today.
  • It's currently around 3% down and at around $220 per share.
  • That means Apple is no longer a trillion-dollar company.

It's been another bad day for AAPL, and it's only a few hours old. At the time of writing Apple stocks had seen a 3% fall, leaving them valued at around the $220 mark. That, in turn, means that Apple can no longer call itself a trillion-dollar company with Wall Street increasingly concerned about coronavirus.

This also now means that Microsoft is the one remaining US company that retains its $1 trillion valuation.

This, of course, isn't just a problem faced by Apple. Since the opening bell, we've been seeing stocks take a fall all over the technology sector. The S&P 500 has even managed to lose everything that it was able to gain since President Trump took office.

Apple currently has all of its stores closed – outside of Great China, at least – in an attempt to help slow the spread of coronavirus. That will have an impact on its revenues, although that is very much to be expected in the current climate.

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There's no telling where the stocks will go from here, although south is a fairly good bet. The ongoing uncertainty surrounding coronavirus has seen technology stocks take a real hit of late, and there appears to be no sign of that stopping for some time yet.

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