Apple’s market valuation: Forget $3 trn, now even $2 trn looks shaky

Apple Inc.’s run as a $3 trillion stock proved fleeting. Now its grip on a $2 trillion market value is looking wobbly, too.

After briefly surpassing $3 trillion in January, the iPhone maker has lost more than $800 billion in capitalization as tech stocks plunged. With concern growing that the Federal Reserve’s interest-rate increases could tip the US into recession, the $2 trillion milestone is looking precarious. Apple closed Tuesday at $2.15 trillion.

“In the same way that Apple benefited from the Fed-fueled bull market, it will suffer as the low interest rate and quantitative easing subsidies fade,” said David Trainer, chief executive officer at investment research firm New Constructs.