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Apple’s market cap drops below $400 billion for the first time in ages

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Apple’s stock has a taken a hit and the company’s market cap have dropped below $400 billion for the first time since January 2012. The Cupertino’s stock has been wobbling ever since the launch of the fifth-generation iPhone and according to few reports, the investors are concerned about the company’s contracting profit margins.

Apple’s upcoming products and innovations along with the superabundance of the assets have all raised a cause of concern among the investors, resulting in the drop of company’s share price and overall market cap.

Apple’s market cap saw a high of $650 billion in September 2012, but has been dropping ever since and the stock is now trading at the same value as in January 2012. Apple’s market cap is currently at $395.88 billion, but analysts expect the company to bounce back over the $400B mark in the upcoming weeks.

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