Apple Stock Slides Below Historic $3 Trillion Mark

Last month, Apple reached uncharted territory in the corporate world: a $3 trillion market capitalization. Turns out, it was a short-lived milestone.

The tech giant's stock slipped below $3 trillion in market value on Friday morning, lowered by investor concerns over disappointing third-quarter sales.

While Apple crossing the $3 trillion mark illustrated the company's singular size and hold on many parts of consumer technology, the business is newly contending with softening demand for its hallmark iPhones and Mac computers. It hopes new offerings like its high-end virtual-reality headset Vision Pro and subscription services such as Apple TV can rekindle growth and assuage investor fears.

Shortly after the opening bell, Apple shares were down 3.2% to about $185, compared to the Nasdaq's 0.8% gain, giving it a $2.9 trillion market cap. While it remains the world's largest company, it'll need its shares to hit $190.73 to again cross the $3 trillion point.