Technology

Apple at risk of losing ‘most valued’ stock status

Company behind the iPhone has had a rocked start to 2023 with as much as $183 billion in market valued wiped out this week following downgrades

Apple’s shares, which rallied nearly 50 per cent last year, have fallen in every session to start 2024

iPhone maker Apple is off to its weakest start to a year since 2019, putting its long-standing status as the world’s most valuable stock by market value in jeopardy

The company has been the most valuable publicly-listed company since July 2022, but the stock has fallen sharply this year after the technology giant was hit by two ratings downgrades, with analysts flagging weak macro environment in China pressuring demand for iPhones. That has shrunk its ...