Apple's Star is Fading Fast

Apple's Star is Fading Fast
Microsoft and Amazon have both overtaken Apple, which is no longer a trillion dollar company.

(CCM) — Apple was, until recently, the world's most valuable country, but today it has fallen into third place behind arch-rival Microsoft, and Amazon, according to a MarketWatch report.

Apple's shared fell during the week over fears about a trade war with China, as well as weak demand for the company's flagship iPhone products and worries that the high prices it charges for its iPhones may no longer be sustainable. This left the company with a market capitalization of $829 billion, behind Microsoft ($838.3 billion) and ($830.9 billion).

Microsoft and Amazon have been resurgent thanks to strong growth in their cloud-computing businesses: Azure and Amazon Web Services respectively.

So far this year Apple's shares have risen by just 3%, compared to Amazon's meteoric 45% rise and Microsoft's impressive 27% gain.

Apple became the world's first public company to be worth $1 trillion in August 2018 when its shares hit $207.39, beating Microsoft and Amazon to that title. Apple's shares then peaked at $233.47 in October, before falling back to around $175 today.

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