Apple has bled more than $500B in market value in September
Amid a broad tech industry selloff, Apple stock has lost more than $500 billion in market value since an intraday high of $137.98 on Sept. 2.
Credit: WikiMedia
Since that day, the Cupertino tech giant's share price has plunged 22.6%, shaving off about $532 billion in market value. It follows months of surge leading up to a four-for-one stock split that completed on Aug. 31.
Shares of AAPL are currently trading at $106.84 on the NASDAQ, down 3.17% in intraday trading. That leaves Apple with a market capitalization of $1.85 trillion.
Apple's plunge comes amid a broader tech industry selloff in September. Earlier this month, Apple lost more market value than any other company in history during a one-day plummet.
According to CNBC, investors believe the selloff resulted from concerns over rich and lofty valuations that have surged too high and too fast.
In August alone, Apple's share price rose 21.4% in the wake of better-than-expected earnings results during coronavirus and the announcement of the four-for-one stock split.
Apple became the first publicly traded U.S. company to hit a $2 trillion market valuation on Aug. 24. It first lost its $2 trillion market cap on Sept. 3.
On Tuesday, Apple released new Apple Watch models, iPads and services, but some analysts told CNBC that the event was "underwhelming." The company did not announce new iPhones at the keynote.
New "iPhone 12" and "iPhone 12 Pro" models are still on the horizon, and may be unveiled at a keynote conference in early October.
Credit: WikiMedia
Since that day, the Cupertino tech giant's share price has plunged 22.6%, shaving off about $532 billion in market value. It follows months of surge leading up to a four-for-one stock split that completed on Aug. 31.
Shares of AAPL are currently trading at $106.84 on the NASDAQ, down 3.17% in intraday trading. That leaves Apple with a market capitalization of $1.85 trillion.
Apple's plunge comes amid a broader tech industry selloff in September. Earlier this month, Apple lost more market value than any other company in history during a one-day plummet.
According to CNBC, investors believe the selloff resulted from concerns over rich and lofty valuations that have surged too high and too fast.
In August alone, Apple's share price rose 21.4% in the wake of better-than-expected earnings results during coronavirus and the announcement of the four-for-one stock split.
Apple became the first publicly traded U.S. company to hit a $2 trillion market valuation on Aug. 24. It first lost its $2 trillion market cap on Sept. 3.
On Tuesday, Apple released new Apple Watch models, iPads and services, but some analysts told CNBC that the event was "underwhelming." The company did not announce new iPhones at the keynote.
New "iPhone 12" and "iPhone 12 Pro" models are still on the horizon, and may be unveiled at a keynote conference in early October.
Comments
How can Apple be worth almost a quarter less than a few weeks ago?
(Ah, @Fastasleep beat me to it).
Seems to me that the stockmarket is full of complete and utter morons.
Isn't this the bottom? I mean how much lower can it go?
Then again this is AAPL......
Keyword being believe.
The lowest it goes is usually when enough of you decide now is the time to invest for the first time and there becomes more buyers than sellers. And the sellers then need to take action to adjust for this change.
It went above $110/share (all values are normalized in this story)
There was news that there were financial misdeeds
It dropped to $80, and he was confident.
"It'll never go below 80."
Then, it went to 60, and he was less confident.
"It'll never go below 60."
Then, it went to 40, and he was shaken.
"It'll never go below 40."
He was frazzled, but held on.
"It'll never go below 20."
Dreams of retirement in two years disappeared. 80% of his net worth disappeared.
I asked him how he was doing, and when he said it will never go below 20, I responded with, "you know, it'll never go below zero."
He held on, with 100% of his investments in LU.
He finally got out when the stock hit $5/share, losing over 95% of his nest egg.
In retrospect, it's easy to see where he went wrong, putting all his eggs in one basket, trying to dance on a collapsing building, using metaphors that never existed, but even at the time, he could have recovered from a 50% loss, but he had to start over at 40, saving for retirement.
The rule is: It can never go below zero.
I'll take 8-12% (S&P500) on my investment over 1.75-5% every day of the week. It have a stomach for the ups and downs, though, and many people (including my wife) do not.
To me, working and setting aside 15% of my income for delayed gratification is far less risky than living now, and hoping that politicians in the future don't think I'm "rich" so they can not give me benefits that others get because of my past earnings.
https://dqydj.com/is-social-security-a-good-investment/
They can't wait to long to do this (although, the lower it goes, the more stock I get to buy), before folks with think and say "The (sky) "Apple" is falling.
While nobody is even thinking about thinking about redistributing your savings to the poor, they are currently being redistributed to the wealthy by means of the Fed's ZIRP (Zero Interest Rate Policy) that pays nothing on savings and pushes those savings into risk assets that benefit the rich. It also enables the government to finance tax cuts with trillion dollar deficits.
Yes, the stock market is gambling. This is not an economic system. It’s a bunch of BS foisted upon us by the few who can play with millions of dollars of valuation per month/week/day/minute. It’s all imaginary value. The fact that it has real world consequences on us is utterly ludicrous craziness and shows how utterly insane our culture is to treat this gambling show like an economy.