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Apple's market capitalization fell below $500 billion on Thursday as shares of the world's most valuable listed company continued to slide after suffering their worst one-day decline in nearly four years.
Facebook shares scraped a new low
Tuesday. The new drag on the already leaden stock:
Analysts from two of Facebook’s largest
underwriters on its botched initial public
stock offering cut their price targets.
Apple's market capitalization topped $500 billion in opening trading Wednesday, climbing to a mountain peak where few companies have ventured -and none have stayed for long.
International Business Machines surged past old rival Microsoft Corp in market value for the first time since April 1996, marking the latest twist in the fluctuating fortunes of two of the world's most important technology companies.