Apple drops below $1 trillion valuation after disappointing forecast
As of 2pm Eastern, shares were down nearly 7 percent to below the $207.08 threshold for market capitalization of $1 trillion.
Yesterday, Apple predicted that supply issues might affect new model iPhone sales and that geopolitical tensions in certain markets would mean less disposable income would flow to the company.
The biggest factor in shareholder hesitance was the announcement that the company would no longer distribute unit sales information for its iPhones, iPads and Mac devices. Some brokerage houses are concerned that Apple will try to hide declines, particularly with iPhones.