Apple loses $1 trillion in market value in one year

TL;DR

Apple loses $1 trillion in market value in one yearInvestors drove Apple's market value below $2 trillion during the first trading session of 2023, a year after propelling it to become, briefly, the first U.S. company to reach $3 trillion.- According to the report, published Monday, Apple reportedly notified several suppliers to build fewer parts for some of its devices, including AirPods, the Apple Watch and MacBooks.Be smart: Investors are in a waiting period ahead of earnings, when details about Apple's all-important holiday quarter will be released and forecasts will be issued.The big picture: Apple's stock rose 34% in 2021 when markets had one of their best years ever — but also as stay at home stocks were on their way down as global economies began to reopen.- Rapid inflation and rising interest rates changed consumer moods and overhauled market conditions in 2022, ending Big Tech's 20-year run of mad growth, Axios' Scott Rosenberg has written."

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