Apple’s stock market value shrank sharply on Tuesday following its steep drop last year, leaving it below $2 trillion (roughly Rs. 1,65,67,900 crore) for the first time since March 2021. The sell-off came a year after the iPhone maker became the first company to reach the $3 trillion (roughly Rs. 2,48,51,900 crore) market capitalisation milestone. Apple’s shares declined 3.7 percent to $125.07 (roughly Rs. 10,400) after Exane BNP Paribas analyst Jerome Ramel downgraded the company to “neutral” from “outperform,” slashing his price target to $140 (roughly Rs. 11,600) from $180 (roughly Rs. 14,900), according to Refinitiv Eikon. Also exacerbating investors’ worries that a slowing global economy and high inflation may be hurting demand for Apple devices, Nikkei reported, citing unnamed suppliers, that Apple has told suppliers to manufacture fewer parts for its earphones, watches and laptops. The drop in Apple’s share price put its market capitalisation at $1.99 trillion (roughly Rs. 1,64,85,200 crore). Ramel cut his iPhone shipment targets for fiscal 2023 to 224 million units from 245 million units, reflecting supply chain issues from manufacturer Foxconn and consumers cutting back spending on high-end …