Apple closes above $2T the day after tech industry sell-off

Posted:
in General Discussion
Apple on Friday regained a market valuation above $2 trillion after briefly losing it Thursday in a large-scale tech industry stock sell-off.

Apple bleeds more than 8% and loses $2 trillion market capitalization.
Apple bleeds more than 8% and loses $2 trillion market capitalization.


The AAPL share price closed at $120.96 at end of trading, up 0.066% on the day. Apple's stock price hit a low of $111.17 in intra-day trading on Sept. 4, representing a 7.44% bleed since trading began.

Apple's reclaiming of a $2 trillion valuation comes the day after it bled nearly $180 billion in market capitalization. On Thursday, Apple's share price was down nearly 8% in intra-day trading amid a broad sell-off of tech stocks. It marked the worst day of trading for technology stocks since a coronavirus plunge in March, in which Apple saw a 12.5% drop.

According to MarketWatch, Apple's plunge was the worst one-day loss in value for any company ever. Tech stocks led the self-off, and all three major indices showed major losses across other segments.

The dip Thursday follows several months of steady growth for the Cupertino tech company and several quarters of better-than-expected earnings. Apple became the first U.S. company to hit a $2 trillion valuation on Aug. 19, 2020. Apple's share price is still up nearly 113% since a coronavirus-sparked low on March 23.

Apple's current share price has been readjusted due to the recently completed four-for-one stock split on Aug. 31. The split gave each shareholder three additional shares for every one held, each at 25% of their original value.

Comments

  • Reply 1 of 8
    Where else would you put your money?
    jas99aderutterwatto_cobra
  • Reply 2 of 8
    h4y3s said:
    Where else would you put your money?
    Underneath my pillows....hmmm way too risky  
  • Reply 3 of 8
    Tech Stock sells off by investors to make $?? Tech stocks are still too high, specially those that don’t have physical assets ...
  • Reply 4 of 8
    Apple is just getting going. New products will change the world - again. Hold that stock. Buy on the dips. 
    watto_cobra
  • Reply 5 of 8
    Apple's worth about $2T.

    Can we leave it at that.
    mobirdred oakwatto_cobra
  • Reply 6 of 8
    h4y3s said:
    Where else would you put your money?
    Pumpkins, of course! Halloween is coming up and they will skyrocket!

    mariowincowatto_cobra
  • Reply 7 of 8
    Good consolidation then, lots of unknown products still to come, good times ahead me thinks.
    watto_cobra
  • Reply 8 of 8
    williamh said:
    h4y3s said:
    Where else would you put your money?
    Pumpkins, of course! Halloween is coming up and they will skyrocket!

    And after the pumpkin market has gone through it’s “pumpkin and dumpkin”, then the tulip market should start the next big “bloom and bust” cycle.
    watto_cobra
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