In the shadow of another day of sharp declines: Apple is no longer the largest in the world

The Little Apple: The tech giant lost 5 percent in another day of market crashes and cleared the summit for Saudi oil company Aramco.

Nasdaq lost over 3 percent

Walla!

Of money

12/05/2022

Thursday, May 12, 2022, 1:30 p.m.

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These are not easy days on Wall Street.

After a day of slight recovery, the indices fell again, with Nasdaq dropping 3.18 percent and stabilizing at 11,364 points, the lowest since November 2020. The Dow Jones industrial average lost one percent and the S&P 500 plunged 1.65 percent.

The story is not going to get any better anytime soon, analysts say, with investment houses Morgan Stanley and the Walth Consulting Group saying "the pain is not over yet."

Netflix stock continued to plunge 6.35 percent to 166 points, its lowest level since August 2017. Amazon, with a 3 percent decline, returned to its level from the dark days of April 2020. Anvidia continues to shake and hit 5.5 percent, and Tesla declined at 8.25. percentage.

More on Walla!

Wall Street has taken a hit, which is not necessarily a bad thing

To the full article

The pain is still with us.

Tim Cook and Apple lose the summit (Photo: Reuters, Reuters)

Today's big story comes from Apple, which has fallen by 5 percent and as a result is no longer the most expensive company in the world.

Apple has lost more than 20 percent since January, and its value currently stands at $ 2.37 trillion.

Whoever took the summit in its place is the Saudi oil company Aramco, with a market capitalization of $ 2.43 trillion.

Shares of energy companies rose in parallel with declines in technology stocks.

Aramco, which added more than 20 percent to its value this year, was at the top until 2020, when Apple caused the upheaval.

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