Apple's Market Value Plummets, Microsoft Closes in on Top Spot

A weak start to 2024 and potential antitrust case put Apple's reign as world's most valuable stock in jeopardy.

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.