Apple market value briefly dips below $1 trillion level it has held since October

While Apple shares pared their loss by the close, finishing the week valued at $1.003 trillion, the stock again teetered around the 13-digit threshold in after hours trading.

A woman enters Apple Inc.'s headquarters in Cupertino, California, U.S., on Thursday, Aug. 25, 2011. Apple Inc. Chief Executive Officer Steve Jobs, who transformed the company he started at age 21 from a personal-computer also-ran into the world's largest technology company, resigned Wednesday. Photographer: Noah Berger/Bloomberg (Bloomberg)

Apple briefly fell below $1 trillion in market value in the last 10 minutes of Friday's session, threatening a title that the iPhone maker has hung onto since October.

While Apple shares pared their loss by the close, finishing the week valued at $1.003 trillion, the stock again teetered around the 13-digit threshold in after hours trading. In the wake of coronavirus, the company has been hampered by supply-chain worries in China and has closed stores everywhere else.

Microsoft, the only other US member of the trillion-dollar club, has managed to cling on despite the historic market rout. The company's shares are down 23% since virus concern gained steam in late February and it ended the week with a market value of $1.04 trillion.

Apple has fallen 27% since February 21. Both stocks are still holding up better than the S&P 500, which is down 32% since reaching a record on February 19.

Coronavirus-related weakness has already evicted two names from the thirteen-digit club: Amazon and Google-parent Alphabet both rose above the threshold earlier this year but fell back below $1 trillion in late February.