AAPL bleeds record $97B in valuation over weekend [u]

Posted:
in AAPL Investors edited March 2020
Apple's shares have taken a hammering over the weekend in after-hours trading, with the share price set to open on Monday morning at about $20 below its value at the end of trading on Friday afternoon, its biggest drop in five years.

The Steve Jobs Theater at Apple Park
The Steve Jobs Theater at Apple Park


The ongoing coronavirus crisis is affecting the stocks and shares of major companies once more, as investors worry about how COVID-19 is going to affect their holdings. Over the weekend, stockmarkets saw the value of shares fall, with Apple among the injured parties.

On Friday, Apple ended its trading day at $289.03, up from its starting price of $282, but down from Thursday's closing price of $292.92. Trading over the weekend has seen Apple's price fall further, with pre-market reporting indicating it will open at between $268 and $269, over $20 down from its starting price the previous day.

For context, Apple's announcement on January 2, 2019 that it would miss revenue guidance resulted in an overnight intersession drop of $13.94 by the morning of January 3, representing a drop of 8.83%. If Apple's shares open at $269.03 on Monday, a full $20 down from Friday afternoon, it would be the equivalent share value fall of 6.92%.

The market capitaliztion of Apple itself is down $97 billion from its $1.26 trillion valuation on Friday. The drop is the highest between trading sessions for Apple, ever.

To put the drop into perspective, it is the equivalent market value of Charter Communications, Lockheed Martin, Texas Instruments, and approximately three-quarters of Tesla.

If it does commence trade at $20 below Friday's closure, it would be Apple's fourth-highest inter-session fall in a five-year period, according to historical data from Nasdaq. The highest was on August 24, 2015, where the price dropped 10.3% over a weekend.

Investors are concerned about oil pricing, and the continuing spread of the coronavirus around the world, an outbreak that is causing havoc to supply chains and retail operations in Asia and other regions.

In the case of Apple, it has led to production backlogs as supply chain partners work to mitigate the virus, while trying to retain production capacity. Apple has also instituted travel bans for its own staff, preventing its engineers from visiting suppliers for component testing, which may impact the production of the "iPhone 12."

Update: AAPL closed the day at $266.17, up from an opening price of $263.56.
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Comments

  • Reply 1 of 84
    lkrupplkrupp Posts: 8,999member
    Fear and panic have won the day. Ebay has banned the sale of masks and hand sanitizer to prevent price gouging. Shelves are empty, people are running around with their hair on fire screaming, I wonder what would happen if some real apocalypse occurred. We're like frogs sitting in a pot of water, blissfully unaware of the rising temperatures caused by climate change as the temperature rises until we are boiled alive. But nobody cares about that. In the end we are just mindless beasts no different than our prehistoric ancestors.
    elijahgrandominternetpersonBeatsDAalsethjony0FileMakerFellerflyingdpdysamoria
  • Reply 2 of 84
    dysamoriadysamoria Posts: 3,200member
    Hooray for the invisible hand of the irrational gambling system of “public ownership”. Congratulations on always compounding problems. You just keep spreading that chaos, you delightfully magical economic system. Society will continue to worship Wall Street no matter what mess you make.

    🤮
    StrangeDaysMisterKitDAalsethFileMakerFeller
  • Reply 3 of 84
    lkrupplkrupp Posts: 8,999member
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    elijahgrandominternetpersonBeatsDAalsethjony0lolliverflyingdpCarnage
  • Reply 4 of 84
    lkrupplkrupp Posts: 8,999member
    dysamoria said:
    Hooray for the invisible hand of the irrational gambling system of “public ownership”. Congratulations on always compounding problems. You just keep spreading that chaos, you delightfully magical economic system. Society will continue to worship Wall Street no matter what mess you make.

    ߤt;/div>
    And what's your alternative economic system? Government ownership instead of public ownership?
    edited March 2020
  • Reply 5 of 84
    spice-boyspice-boy Posts: 1,430member
    lkrupp said:
    Fear and panic have won the day. Ebay has banned the sale of masks and hand sanitizer to prevent price gouging. Shelves are empty, people are running around with their hair on fire screaming, I wonder what would happen if some real apocalypse occurred. We're like frogs sitting in a pot of water, blissfully unaware of the rising temperatures caused by climate change as the temperature rises until we are boiled alive. But nobody cares about that. In the end we are just mindless beasts no different than our prehistoric ancestors.
    Since you lack any feelings towards other humans your heartless comment is no surprise. No only some of us are mindless frogs and they were red caps. 
    muthuk_vanalingamchemengin1dysamoria
  • Reply 6 of 84
    lkrupplkrupp Posts: 8,999member
    Oops! Trading has been halted on the NYSE after an 1800 point drop. The pundits are blaming both the virus scare and the oil war between Russia and OPEC. Biggest drop in oil prices in 30 years. It's all over people. Bend over, place your head between your legs, and kiss your ass goodbye! /s
    edited March 2020
  • Reply 7 of 84
    SpamSandwichSpamSandwich Posts: 33,408member
    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    24/7 trading is one reason I like Bitcoin, Ethereum and Hedera. All stock markets should have always-open policies.
  • Reply 8 of 84
    spice-boyspice-boy Posts: 1,430member

    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    I guess all your "hard earned" money made from owning stock in Apple will be gone soon. Maybe another huge tax break for the 1% would make it right? 
    chemengin1dysamoria
  • Reply 9 of 84
    SpamSandwichSpamSandwich Posts: 33,408member
    Another day at the races and the stock market getting absolutely killed. However I’ll just note that my two buy orders for AAPL have still not gone through yet. We still have not hit market crashing levels of panic and selling yet.
  • Reply 10 of 84
    avon b7avon b7 Posts: 5,682member
    lkrupp said:
    Oops! Trading has been halted on the NYSE after an 1800 point drop. The pundits are blaming both the virus scare and the oil war between Russia and OPEC. Biggest drop in oil prices in 30 years. It's all over people. Bend over, place your head between your legs, and kiss your ass goodbye! /s
    Was that due to a circuit breaker being triggered and provoking a 15 minute suspension?
  • Reply 11 of 84
    lkrupplkrupp Posts: 8,999member
    spice-boy said:

    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    I guess all your "hard earned" money made from owning stock in Apple will be gone soon. Maybe another huge tax break for the 1% would make it right? 
    It's times like these when the communists crawl out of the woodwork promising a chicken in every pot even though they know they can't deliver on that promise. "They pretend to pay us and we pretend to work" is an old Russian saying. Time to send the rich to reeducation camps and confiscate their wealth. Oh wait, that's Bernie's plan. My bad.
    SpamSandwichGG1flyingdp
  • Reply 12 of 84
    spice-boyspice-boy Posts: 1,430member

    dysamoria said:
    Hooray for the invisible hand of the irrational gambling system of “public ownership”. Congratulations on always compounding problems. You just keep spreading that chaos, you delightfully magical economic system. Society will continue to worship Wall Street no matter what mess you make.

    🤮
    Once upon a time a corrupt thieving group of mostly men who went to work at the tip of Manhattan to plot and scheme ways to create wealth without actually creating anything. The house of cards soon fell and it took a mighty nation down with it. That was 2008, twelve years later nobody on Earth believed it could possibly happen again so they removed the restrictions put in place to prevent another house of cards being built and believed again this wealth was real. 
    MisterKitDAalsethdysamoria
  • Reply 13 of 84
    gatorguygatorguy Posts: 22,827member
    avon b7 said:
    lkrupp said:
    Oops! Trading has been halted on the NYSE after an 1800 point drop. The pundits are blaming both the virus scare and the oil war between Russia and OPEC. Biggest drop in oil prices in 30 years. It's all over people. Bend over, place your head between your legs, and kiss your ass goodbye! /s
    Was that due to a circuit breaker being triggered and provoking a 15 minute suspension?
    Yes it was. 7% drop occurred at about 9:30.
    edited March 2020
  • Reply 14 of 84
    SpamSandwichSpamSandwich Posts: 33,408member
    lkrupp said:
    Oops! Trading has been halted on the NYSE after an 1800 point drop. The pundits are blaming both the virus scare and the oil war between Russia and OPEC. Biggest drop in oil prices in 30 years. It's all over people. Bend over, place your head between your legs, and kiss your ass goodbye! /s
    OMG, oil prices are dropping! How terrible for consumers!  /s

    But of course people in California will never see those price drops at the pump due to the crushing levels of gas taxes there.
    edited March 2020
  • Reply 15 of 84
    spice-boyspice-boy Posts: 1,430member
    lkrupp said:
    spice-boy said:

    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    I guess all your "hard earned" money made from owning stock in Apple will be gone soon. Maybe another huge tax break for the 1% would make it right? 
    It's times like these when the communists crawl out of the woodwork promising a chicken in every pot even though they know they can't deliver on that promise. "They pretend to pay us and we pretend to work" is an old Russian saying. Time to send the rich to reeducation camps and confiscate their wealth. Oh wait, that's Bernie's plan. My bad.
    Wow, you are either the most misinformed person who visits this website or so filled with loathing for the working poor that you can't stop blaming them for all the worlds problems. Hope you lose a lot of "money" from all the worthless Apple stock you planned on retiring with. Oh and don't apply for any "social" programs when you are down and out because that would make you a communist. 
    MisterKitdysamoria
  • Reply 16 of 84
    crowleycrowley Posts: 7,630member
    lkrupp said:
    spice-boy said:

    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    I guess all your "hard earned" money made from owning stock in Apple will be gone soon. Maybe another huge tax break for the 1% would make it right? 
    It's times like these when the communists crawl out of the woodwork promising a chicken in every pot even though they know they can't deliver on that promise. "They pretend to pay us and we pretend to work" is an old Russian saying. Time to send the rich to reeducation camps and confiscate their wealth. Oh wait, that's Bernie's plan. My bad.
    No one has promised any chickens or any re-education camps.  If your political alignment depends on hyperbole and fiction to feel secure in itself perhaps you should trying learning more about alternatives?
    spice-boyBeatslolliverCarnagedysamoria
  • Reply 17 of 84
    davgregdavgreg Posts: 801member
    Remember, Wall Street is a rigged casino and you are not the house.

    As someone up this year (and year over year) when most are down:

    1- Good stocks get caught in downdrafts becuase of margin calls.
    2- The disruption to the worldwide supply chain and  consumer behavior due to Corona Virus is real and ongoing. The oil price war holds significant potential to destroy the financial viability of the shale oil business in the US. At the benchmarks for WTI Crude, they can not cover their debt and othe costs.
    3- The market as a whole is grossly overpriced.
    4- I personally feel that Apple is overpriced- your impression may be different. In a sharp and broad recession, Apple could be way out over its skis. Services can quickly be cancelled.
    gatorguytmayavon b7dewmedysamoria
  • Reply 18 of 84
    gatorguygatorguy Posts: 22,827member
    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    https://www.investopedia.com/ask/answers/after-hours-trading-am-i-able-to-trade-at-this-time/
    muthuk_vanalingam
  • Reply 19 of 84
    WgkruegerWgkrueger Posts: 285member
    “‘‘Tis but a scratch”
    SpamSandwichtmay
  • Reply 20 of 84
    WgkruegerWgkrueger Posts: 285member
    lkrupp said:
    spice-boy said:

    lkrupp said:
    Who gets to do "after hours trading"? Certainly not the individual investor, right? If certain investors get to buy and sell securities over the weekend why is the stock market "closed" on Saturday and Sunday. I don't get this.
    I guess all your "hard earned" money made from owning stock in Apple will be gone soon. Maybe another huge tax break for the 1% would make it right? 
    It's times like these when the communists crawl out of the woodwork promising a chicken in every pot even though they know they can't deliver on that promise. "They pretend to pay us and we pretend to work" is an old Russian saying. Time to send the rich to reeducation camps and confiscate their wealth. Oh wait, that's Bernie's plan. My bad.
    He’s a socialist not a communist. Get your FUD right. 
    spice-boytmayStrangeDayslolliverdysamoria
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