Apple is no longer a $2 trillion company...again
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.
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.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.