Shares of Apple Inc. (AAPL) sank 2.6% in Monday's abbreviated session to close at the lowest level since July 12, 2017, amid a broad-market selloff (http://www.marketwatch.com/story/the-sp-500-is-on-the-verge-of-tumbling-by-the-most-it-has-ever-fallen-on-christmas-eve-2018-12-24). The decline has pushed the technology giant's market capitalization below the $700 billion mark for the first time since Feb. 10, 2017, according to FactSet data. Apple's stock has now plunged 36.7% since it the Oct. 3, 2018 record close of $232.07, with the market cap plummeting about $404.5 billion from its peak of about $1.10 trillion. The stock's price decline during that time has shaved about 578 points off the Dow Jones Industrial Average's price, or about 11.5% of the Dow's 5,036-point drop during that time. Apple is currently the second-largest use company by market cap, behind first-place Microsoft Corp. (MSFT) at $722.7 billion and just ahead of Google parent Alphabet Inc. (GOOGL) at about $684.8 billion, according to FactSet. Amazon.com Inc. (AMZN) is in fourth place at $657.2 billion.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 24, 2018 13:16 ET (18:16 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.