Business
Why Apple Stock Lost $200 Billion in Market Cap Today
The Federal Trade Commission issued a letter to Apple Chief Executive Tim Cook, warning that the company’s news product may violate federal law by promoting news articles from left-wing news outlets and suppressing articles from more conservative publications.
Apple’s upgrade to its Siri virtual assistant might get pushed back, according to a report from Bloomberg.
A new forecast from flash-memory supplier Kioxia hinted that prices could be rising broadly, hitting Apple’s memory costs.
Overall, Apple’s decline took about $202 billion of market value off of the company, which has a market cap of $3.84 trillion. It was the second largest market cap loss for the company on record, according to Dow Jones Market Data.