The 5% reduction in the day has dragged the market capitalization of the iPhone maker below 2,600 billion USD, lower than the 2,650 billion USD of Microsoft - Apple's strong competitor.
The price decline occurred in the context of increased trade tensions between the US and China. In the four trading sessions since President Donald Trump announced a new tax of up to nearly 125% on Chinese goods from April 9, Apple shares have lost more than 20% of their value.
Apple, which assembles about 90% of its products in China, has been exempted from previous rounds of tariffs. However, this time the company is no longer enjoying the same incentives, raising concerns about its dependence on the supply chain in China. This concern makes Apple's stock the strongest downside in the "Magnificent Seven" group - a gathering of 7 leading technology companies.
During the same period, Tesla shares also fell sharply, losing 21.5% of their value, only behind Apple in the decline of the Magnificent Seven group. Amazon, Nvidia and Meta Platforms also saw declines of 12% to 13%, while Alphabet and Microsoft saw declines of 7.7% and 7.2%, respectively.
As for Apple's decline alone, its market capitalization has "evaporated" by nearly 775 billion USD. This figure exceeds Tesla's current market value and is larger than any other US company, except for the seven members of the Magnificent Seven group.
Apple's loss of leading position shows the fragility in its strategy of depending on one country for most of the manufacturing process.
This event also shows that Microsoft is gradually becoming a formidable replacement in the global capitalization race.
