Friday, 24 March, 2023

Apple's Disastrous Day Costs Company $120 B Affects Big Tech

<p>Apple saw a 4.9% decline after Bank of America lowered its rating from buy to neutral and issued a warning about waning consumer interest in its well-known handsets. The selloff reduced Apple&#39;s market capitalization by about $120 billion. An unusual analyst downgrade caused by another wave of selling pressure that destroyed hundreds of billions of dollars in market value caused Apple Inc. shares to collapse.</p>