Their current valuation is based on past events not current achievements. As of now Alphabet/Google & Amazon shares are valued much higher. Apple shares are overinflated and overbought. The bubble has burst form them and it's only a slow downhill slide from this point on. When their stock crashed, it was the first one to go in the recent tech market slump, and it slid the furthest and almost took the Dow below 200 points. That proves that investors are happy to be getting rid of Apple shares and see no bright future left for this company. Poor dat.