Apple's Market Value Evaporates Trillion Yuan in Two Days, Stock Price Down Nearly 12% Year-to-Date
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According to reports, Apple's stock price is currently in a continuous decline, with a cumulative market value loss exceeding 2 trillion yuan, while short sellers have reaped substantial profits.
Apple's stock price has fallen below $180, repeatedly dropping below $170, closing at $170.12 on Tuesday. Apple's stock price has declined nearly 12% year-to-date.
Data shows Apple is the second most profitable short position in U.S. stocks, with short sellers' paper profits reaching $606 million (approximately 4.4 billion yuan).
Regulatory scrutiny and sales decline: Apple faces issues such as regulatory scrutiny over its App Store and declining iPhone sales in China, raising investor concerns about its growth prospects.
Apple's market value has evaporated over $300 billion this year, causing it to lose its position as the most valuable U.S. company to Microsoft.
U.S. stock market under pressure: U.S. stocks extended losses from the previous trading session, with the Nasdaq Composite leading the decline, dropping as much as 2% intraday. Tech stocks like Apple and Tesla showed weak performance.
Most Chinese concept stocks declined, with Tencent Music, iQiyi, and NetEase seeing lower prices. NIO bucked the trend with gains, while Nvidia hit another record high.