Apple loses its position as the world's most valuable company by market capitalization

Apple shares fell 5% in trading on April 8, bringing the iPhone maker’s market capitalization down to below $2.6 trillion, lower than Microsoft’s $2.65 trillion.

The Apple logo at a retail store. (Photo: AFP/Vietnam News Agency)

Apple lost its title as the world’s most valuable publicly traded company on April 8, after the tech giant’s shares dropped sharply, just one day before new U.S. tariffs on Chinese imports were set to take effect.

Apple shares fell 5% during the trading session on April 8, pushing the iPhone maker’s market capitalization below $2.6 trillion—lower than Microsoft’s $2.65 trillion. The renowned software company is now emerging as Apple’s top rival in market value.

In just four trading sessions since former U.S. President Donald Trump announced a 34% tariff hike on Chinese goods starting April 9, Apple’s stock has lost more than 20% of its value.

After China responded with a 34% tariff on American goods last week, Trump further threatened to raise tariffs on Chinese imports by an additional 50%.

Apple, which assembles around 90% of its products in China, was previously exempt from tariffs during the first round of the U.S.-China trade war under Trump’s earlier term. However, this time, the company is no longer receiving the same preferential treatment.

Concerns over Apple’s reliance on China have made its shares the worst performer among the “Magnificent Seven”—a group of the top seven U.S. tech companies—over the past week.

Tesla, the second-biggest loser in the group, has seen its stock price fall about 21.5% since Trump’s tariff announcement. Shares of Amazon, Nvidia, and Meta Platforms have also dropped between 12% and 13% during the same period, while Alphabet and Microsoft fell by 7.7% and 7.2%, respectively.

This selloff has wiped nearly $775 billion off Apple’s market capitalization—more than the total market value of Tesla and exceeding that of any U.S. company outside the Magnificent Seven.

Source: VCCI