Apple loses company title 'trillion dollars'

While the corona virus pandemic continues to sweep the United States, technology companies stocks and the entire US stock market are witnessing the sharpest decline in recent years.

After losing hundreds of billions of dollars of market capitalization from its peak on February 12 earlier this year, last night Apple lost the title of "trillion dollar company" after another day of decline.

Ending the first trading day last week in the US, Apple shares fell more than 2% in value, to $ 224.37. This caused the company's market capitalization to be just over 981 billion USD. Not only Apple, a series of major US stock indexes also dropped yesterday on the news that the trillion-dollar bailout package was not approved.

Along with Apple's loss of trillion-dollar market cap, Microsoft became the only company to retain the trillion-dollar company title on the US stock exchange.

Although Microsoft stock has lost 28% of its value in recent market declines, by the end of last night, the software giant's market capitalization still reached $ 1.04 trillion.

While the corona virus is being viewed as a direct cause of this huge decline, many observers expect it will take at least several months before it ends. Only then will investors' panic be eliminated and the market may have a chance to recover.