Friday, 24 March, 2023

Big tech Affected by Apple's Disastrous Day, Costs $120 B

<p>A rare analyst downgrade caused another wave of selling pressure that caused the biggest US technology firms to lose hundreds of billions of dollars in market value, which caused Apple shares to fall. The maker of the iPhone saw a 4.9% decline after Bank of America lowered its rating from buy to neutral and issued a warning about waning consumer interest in its well-known handsets. The selloff reduced Apple&#39;s market capitalization by about $120 billion.</p>