Shares of Apple Inc fell 0.8% in afternoon trading Thursday, to pull the technology giant’s market capitalization back below the trillion-dollar mark after just one day above it.
With 4.52 billion shares outstanding as of July 19, the stock has to close at or above $221.28 for Apple to have a market cap of at least $1 trillion.
The market cap was down to $998.5 billion after closing at $1.007 trillion on Wednesday.
Apple’s market cap closed above $1 trillion in back-to-back sessions last week, on Sept. 11 and Sept. 12, for the first time in nearly a year, as Apple held a $1+ trillion market cap for 65-straight sessions from Aug. 2, 2018 to Nov. 1.
MacDailyNews Take: As usual, Apple remains criminally undervalued.