Apple's value plunged nearly $1 trillion in 2022

Apple marked a grim milestone this week, falling about $1 trillion below a peak reached in 2022.

The company's shares rallied in recent days, but the massive loss in value reflects difficult economic times for companies across the tech industry and beyond.

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The tech-heavy Nasdaq plummeted by about one-third in 2022 while the broader S&P 500 fell 19% over that period

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Apple's performance, meanwhile, fell right in between those two indexes, dropping 27% over the course of the year.

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The decline of a longstanding stalwart like Apple highlights trends that thrust the U.S. economy into uncertainty in 2022

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leaving it in a precarious position as the new year begins, analysts told ABC News.

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The forces that have squeezed Apple and the wider economy include a shift from pandemic-era consumption that flipped the fortunes of companies large and small,

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Credit-Getty images

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News source:ABC NEWS

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