Apple's capitalization decreased by $1,000,000,000,000 for the year - previously only Amazon managed to do that

The market capitalization of the U.S. company Apple last Tuesday fell below $2 trillion, which has not been seen since early 2021.

Here's What We Know

In 2022, Apple became the first publicly traded technology company to reach a market capitalization of $3 trillion. As you may have realized, the Cupertino-based manufacturer lost $1 trillion in a year. This came after the company's stock plunged 4% on Tuesday.

Apple was no exception and faced supply chain problems as well. In addition, quarantine restrictions in China in late 2022 negatively affected Foxconn's largest facility, where almost all of the iPhone 14 Pro / Pro Max smartphones are manufactured.

Apple's market capitalization is down 31%. On a percentage basis, other companies in the technology sector lost even more over the year. In particular, shares of Amazon and Meta fell by 50% and 63%, respectively. At the same time, Apple became the second company after Amazon, which lost $1 trillion in capitalization.

Source: CNN