Apple marked a grim milestone this week, falling about $1 trillion below a peak reached in 2022.
The company’s shares rallied in recent days, but the massive loss in value reflects difficult economic times for companies across the tech industry and beyond.
The tech-heavy Nasdaq plummeted by about one-third in 2022 while the broader S&P 500 fell 19% over that period. Apple’s performance, meanwhile, fell right in between those two indexes, dropping 27% over the course of the year.
The decline of a longstanding stalwart like Apple highlights trends that thrust the U.S. economy into uncertainty in 2022, leaving it in a precarious position as the new year begins, analysts told ABC News.
The forces that have squeezed Apple and the wider economy include a shift from pandemic-era consumption that flipped the fortunes of companies large and small, a near-historic rise in inflation that triggered…
