Apple shares lose $38 billion in a single day

Apple shares fell 1.2% on Monday, hitting their lowest daily close in two weeks, wiping $38 billion off the company’s market value in a single day.

These losses came after a report showed global smartphone shipments slowed to 1% growth to 295.2 million units in the second quarter of 2025, compared to 1.5% growth in the previous quarter.

Shoppers cut back on spending, fearing economic uncertainty caused by US tariffs, according to data from research firm International Data Corp.