The stock dipped to $89.47 per share, at which point it lost its position as the world’s largest company by capitalization to Alphabet, Google’s parent company. Apple’s stock recovered to $90.13, though the report did not cite as of when.
Apple’s market capitalization has decreased by more than $200 billion over the past year, according to Reuters. Its current market value is $494 billion.
In late April, Apple reported its first revenue decrease for the first time in 13 years.
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