Shares of Apple (NASDAQ: AAPL) slipped last week following a quarterly report that was mostly bad news. Revenue slumped, operating income was down, and the iconic iPhone suffered a sales decline. Apple's sprawling services segment was a bright spot, but it wasn't enough to push the headline numbers higher.

Apple stock had been rallying this year, briefly pushing the company's market capitalization above $3 trillion. Shares have now dipped below that level. Given Apple's optimistic valuation, the stock may be stuck for quite some time below the $3 trillion mark.

The pandemic is over, and that's not good news for sales of Apple products. Consumers aren't snapping up iPhones and Macs like there's no tomorrow anymore.

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Source Fool.com