Apple is no longer a $2 trillion company...again

Source: iMore

What you need to know

Apple's market capitalization dropped below $2 trillion on Tuesday.
It is the second time the stock has done this since Apple passed the historic mark in August.
The company's market cap at the end of Tuesday's trading was $1.96 trillion.

Reported by AppleInsider, Apple shares closed at $112.82 at the end of trading on Tuesday, causing the company's market capitalization to dip below the $2 trillion mark. That said, the company is still close - it sat at $1.96 trillion at the end of trading for the day.

The sub-$2 trillion valuation comes just a few days after Apple recovered from a similar plunge on Sept. 3. During a widespread tech industry sell-off, Apple bled nearly $180 billion in market capitalization — the worst one-day loss for any company ever. AAPL's closing price of $112.82 results in a market valuation of $1.96 trillion. That's reached by multiplying the share price by the number of outstanding shares.

Last month, Apple became the first U.S. company to hit a $2 trillion market cap. Since then, the company's share price has dropped 2.5% and has fluctuated underneath that historic mark twice.

The company just recently completed its four to one stock-split as well, in which it gave each shareholder three additional shares for what was previously held. Each, of course, was now valued at a quarter of what it was before the split.

Apple is expected to announce a slew of new devices this fall, so any reasonable person can assume that the company will pass the $2 trillion mark again.