(NASDAQ: AAPL) has long been king of the stock market. It is Warren-Buffett-led Berkshire Hathaway's largest public equity holding. And until recently, it was the most valuable company in the world.

But Apple has lost its crown to Microsoft, and some even fear it will slip into third place if Nvidia keeps up its scorching-hot valuation expansion.

Apple stock is down 5.3% so far in 2024 compared to a 5.1% gain in the Nasdaq Composite. Over the last year, Apple is up 18.6% compared to the Nasdaq's 33.1% gain. Apple underperformed the Nasdaq over the past year, whereas Microsoft, Nvidia, Amazon, Alphabet, and Meta Platforms have all crushed the Nasdaq.

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Source Fool.com