Their market cap still makes them one of the largest companies on the planet and their PE ratio is still way higher than would be expected for an almost 30 year old company. Their PE ratio is also still 3-4X higher than other tech giants like MSFT and GOOG. That means it's not so much crashing as starting to approach a more sane valuation.

Interest rates being high means the payoff for growth companies is a lot lower and the growth is harder to fuel.