Stock Spotlight: Inflation strikes Apple's core as market cap peels back

Market cap drops $1trn in a year

After becoming the first company to hit a $3trn market cap on 3 January 2022, Apple’s market cap briefly sank under $2trn exactly a year later.

"Higher inflation and interest rates, a potential recession and concerns over a supply chain deeply embedded in China all amount to potential problems for Apple that intensified over the course of 2022," explained Dan Brocklebank, UK director of Orbis Investments. Apple still retains the title of most valuable company in the world and has since seen its market cap nudge back over $2trn, but problems remain for the tech giant. The firm's share price has fallen 24.1% since its $3trn valuation at the start of last year, according to data from NASDAQ. Stock Spotlight: 'Tesla stock shoul...