Apple signage on floor of the New York Stock Exchange in New York, US, on Tuesday, 2 January 2023. 
Apple shares are up as much as 0.4% Friday morning in New York, snapping a four-day streak of losses. Still, the company has seen $164 billion in market value erased so far this year, according to data compiled by Bloomberg. While the stock has suffered bigger percentage declines in the first week of January, the losses are the biggest market value destruction at the start of any year on record.
The losses have pushed Apple’s market value down to about $2.84 trillion, nearing Microsoft’s $2.75 trillion. Shares of Microsoft are up as much as 0.7% Friday.
The Windows software maker has benefitted from the artificial intelligence trade that has mesmerized Wall Street over the past year. The software maker is OpenAI’s largest shareholder and has invested about $13 billion into the ChatGPT parent.