Apple’s share price hit a new low since October last year, and its market value was overtaken by Saudi Aramco

On May 12 , the U.S. stock market continued to fall, and the three major indexes closed down collectively. The Nasdaq, which led the decline, closed down 3.18% at 11,364.24 points, hitting a new closing low since November 3 , 2020 .

The S&P closed down 1.65% at 3,935.21 points, closing at a new low since March 25 last year. It closed below 4,000 points for the first time since March 31 last year on Monday.

Technology stocks remained the hardest hit, with Tesla closing down nearly 8.3 percent , hitting its lowest level since September 20 last year.

Among the six major technology stocks of FAANMG , Netflix fell nearly 6.4% to the lowest point since August 2017 , Apple fell nearly 5.2% , the lowest since October last year, and Facebook parent company Meta fell 4.5% , the highest since April 2020 . A new low, Microsoft fell 3.3% , a new low since June last year, Amazon fell 3.2% , a new low since April 2020 , Google parent company Alphabet fell nearly 0.7% , a new low since May last year.

Among them, Apple, which has the world’s largest market capitalization, has been robbed of the throne of the largest market value after continuous declines and ceded it to the oil giant Saudi Aramco. In Wednesday’s intraday, Saudi Aramco’s share price hit an all-time high, with a market value of about $ 2.43 trillion, surpassing Apple’s market cap for the first time since 2020 ; while Apple fell 4.4% to $ 147.53 , with a market value of $ 2.38 trillion, and its losses continued to expand on the day.

Saudi Aramco , the world’s largest oil company, is up 28 % in 2022 on the back of a combination of factors this year, while Apple has slumped several times since setting a record of $ 3 trillion at the start of the year, with shares down 16 percent this year. % .

Hashtag: apple oil market value