Is Apple’s reign as the most valuable company coming to an end?

  • Apple’s stock has fallen on all three trading days in 2024
  • This is Apple’s longest losing streak to open a new year since 1982
  • Apple has had worse starts to the year in percentage terms in recent memory
  • A bad start doesn’t necessarily set the tone for the year ahead
  • Apple stock has fallen more than 5% in January five times in the past 20 years
  • Apple downgrades tend to arrive in groups
  • Apple also lost market share in smartphones in 2023
  • The broader technology sector has endured a tough start to the new year
  • Apple’s status as the world’s most valuable company is under threat

Apple’s stock has had a rough start to 2024, falling on all three trading days so far. This marks Apple’s longest losing streak to open a new year since 1982. However, in recent memory, Apple has had worse starts to the year in terms of percentage drops. It’s important to note that a bad start doesn’t necessarily dictate the performance for the rest of the year. In fact, Apple stock has fallen more than 5% in January five times in the past 20 years, and on four of those occasions, it went on to post an annual gain. Apple downgrades tend to come in groups, with analysts noting weakness in sales of iPhones and Mac computers. Additionally, Apple lost market share in smartphones in 2023. The broader technology sector has also faced challenges at the start of the year, as investors reassess the likelihood of Federal Reserve rate cuts. As a result, Apple’s stock has already fallen 5.5% in 2024, and its status as the world’s most valuable company is now under threat, with Microsoft closing in on its market capitalization.

Public Companies: Apple Inc. (AAPL), Microsoft Corporation (MSFT)
Private Companies:
Key People:

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Factuality Level: 7
Justification: The article provides factual information about Apple’s stock performance and downgrades from analysts. However, it includes some unnecessary background information and tangential details about Apple’s past stock performance. The article also includes some opinion in the form of speculation about the future performance of Apple stock. Overall, the article is mostly factual but contains some elements of sensationalism and opinion masquerading as fact.

Noise Level: 3
Justification: The article provides information about Apple’s stock performance at the beginning of the year and mentions some downgrades and market share loss. However, it lacks in-depth analysis, evidence, and actionable insights. It also diverts into unrelated topics such as the broader technology sector and Microsoft’s market capitalization, which are not directly relevant to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: The article discusses the falling stock price of Apple, which may impact the financial markets and investors.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the financial performance of Apple and the potential impact on its stock price. There is no mention of any extreme events or significant disruptions.

Reported publicly: www.marketwatch.com