Apple Inc.'s shares declined more than 4% during Tuesday's trading session, seemingly in the aftermath of the delays in the shipment of iPhone 14 Pro the company has seen during this holiday season due to the restrictions aimed at curbing the spread of COVID-19 in China. China is the home of Apple's primary factory that produces the iPhone 14 Pro.

As a result, the tech giant's market capitalization dropped below $2 billion for the first time since April 2022, standing at approximately $1,982.63 billion at 1:01 pm ET.

Apple's shares decreased by 4.19% at 1:01 pm ET to sell for $124.4900.