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Apple’s 5% Stock Plunge Erases $275 Billion After MacBook And iPad Price Hikes
Key takeaways
- The slide moves Apple below Alphabet ($4.1 trillion) as the third-largest company in the world by market capitalization, with the Google parent ranked behind Nvidia ($4.7 trillion).
- The price changes spiked the starting cost of the MacBook Pro 1T, the cheapest MacBook Pro, to $1,999 from $1,699—the largest increase of any single product.
- The MacBook Neo—the company's cheapest laptop—went up in price from $599 to $699 and the cheapest MacBook Air, the 512GB, went from $1099 to $1,299.
Topline Apple’s stock plunged on Thursday after the tech giant announced price hikes for laptops and tablets, following a warning from CEO Tim Cook that the increases were “unavoidable” as an AI surge fueled higher memory and storage costs.
Customers try out Apple's Mac Book Neo laptops. VCG via Getty Images Key Facts Shares of Apple dropped by 5.3% to around $277 as of Thursday afternoon, paring back earlier losses of up to 6%, lowering its market value by roughly $275 billion to just over $4 trillion.
The slide moves Apple below Alphabet ($4.1 trillion) as the third-largest company in the world by market capitalization, with the Google parent ranked behind Nvidia ($4.7 trillion).
Article preview — originally published by Forbes. Full story at the source.
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