Overview

• Apple's status as the world's most valuable stock by market value is in jeopardy following a weak start to 2024, with the company's shares falling for five consecutive days.
• Apple's market value has decreased by about $177 billion so far this year, pushing its market value down to about $2.8 trillion.
• The decline in Apple's shares began after the company was hit by two ratings downgrades, with analysts citing a weak macro environment in China pressuring demand for iPhones.
• Microsoft Corp, whose shares have seen a less pronounced decline to begin the year, is closing the gap with Apple, with its market value nearing $2.7 trillion.
• The US Justice Department is reportedly closer to filing an antitrust case against Apple, adding to the company's challenges.