President Donald Trump’s tariffs have caused Apple to lose its coveted title of the world’s most valuable company. Apple (AAPL) lost its title as the world’s most valuable public company on Tuesday after the stock slid the day before steep tariffs on Chinese imports were scheduled to take effect.
Apple was first named the most valuable company in the world on August 2, 2018. On this date, Apple reached a market capitalization of $1 trillion, making it the first publicly traded company to achieve that milestone. The company maintained its position at the top for several years, although other companies, like Microsoft and Amazon, have also reached or surpassed the $1 trillion valuation in subsequent years.
Apple’s dominance has been largely driven by its strong product lineup, including the iPhone, iPad, Mac, and services like the App Store, Apple Music, and iCloud. Its continued innovation and expansion into new markets have kept it a leader in the tech industry.
Apple shares fell 5% on Tuesday, pushing the iPhone maker’s market capitalization to less than $2.6 trillion, compared with software maker Microsoft’s (MSFT) $2.65 trillion.
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An overview of Apple Inc
Apple Inc. is a global technology company based in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Known for its innovation, Apple designs and manufactures consumer electronics, software, and services. Its iconic products include the iPhone, iPad, Mac computers, Apple Watch, and AirPods. Apple also offers software like iOS and macOS, along with services such as Apple Music, iCloud, and Apple TV+.
Under Tim Cook’s leadership, Apple has become one of the world’s most valuable companies, consistently pushing boundaries in technology, design, and user experience, while focusing on privacy and sustainability.
It is being reported that Apple shares have lost over a fifth of their value in the four sessions since President Trump announced he would increase the tariff rate on Chinese goods by 34% starting April 9.