The reversal comes on a day where the entire market saw a steep drop following a mediocre jobs report. The Dow closed down 2.2 percent and the Nasdaq Composite Index closed down 3.1 percent.
Apple had already been struggling to hang onto its spot as the world’s most valuable public company. It was once again eclipsed by Microsoft on Friday after returning to the lead at the start of the week. Amazon has also challenged both companies for first place.
Alphabet has also been under a microscope recently. Google CEO Sundar Pichai is expected to testify about the company’s policies at a House Judiciary Committee Hearing that was postponed to Tuesday. There, he will likely face questions about potential bias in Google’s search results and the company’s proposed plans to reenter China with a censored version of its platform. Google has also seen a recent uprising from employees who were discontent with the company’s sexual misconduct policies and treatment of temporary and contract workers.
Apple Inc. shares fell $0.03 (-0.02%) in after-hours trading Friday. Year-to-date, AAPL has gained 1.06%, versus a 0.06% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of CNBC.