Apple's weighting in the S&P 500 slips to a new low since 2021
$Apple(AAPL.US$ Year-to-date in 2024, Apple's shares have accumulated a decline of roughly 10.5%, implying a drop in weighting in the S&P 500 to roughly 5.7%, a new low since June 2021. By comparison, at one point in mid-2023, that weighting was more than 7.7%.
Last Thursday, the U.S. Department of Justice chain of blows, accusing Apple of violating antitrust laws, Apple shares fell more than 4% that day, the worst single-day performance since last August, the market value of a day, "blood loss" of 110 billion U.S. dollars, the performance of U.S. stocks is far less than the broader market.
2024 is a challenging year for Apple. In addition to the aforementioned antitrust crackdowns from regulation, the market has growing concerns about iPhone demand and Apple's relative lag in the AI race.
Just over ten days into the year in January, $Microsoft(MSFT.US$ 's market capitalization surpassed Apple's to become the world's largest company by market capitalization. Meanwhile, it's $NVIDIA(NVDA.US$ , which is in the C-suite of the AI boom, that continues to climb in market capitalization and is now inching closer to Apple.
2024 is a challenging year for Apple. In addition to the aforementioned antitrust crackdowns from regulation, the market has growing concerns about iPhone demand and Apple's relative lag in the AI race.
Just over ten days into the year in January, $Microsoft(MSFT.US$ 's market capitalization surpassed Apple's to become the world's largest company by market capitalization. Meanwhile, it's $NVIDIA(NVDA.US$ , which is in the C-suite of the AI boom, that continues to climb in market capitalization and is now inching closer to Apple.
Earlier this month, the most knowledgeable Apple analyst, Ming-Chi Kuo of Tianfeng International Securities, said that the previous market consensus for iPhone shipments in 2024 of 220-225 million units had begun to be revised downward and closer to his previous forecast of 200 million units. If Apple fails to launch generative AI services this year that outperform market expectations, NVIDIA's market capitalization will likely overtake Apple.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Video Sharer
news porter, welcome and respect all view~
1911Followers
33Following
5171Visitors
Follow