Following several months of explosive growth, Apple's stock came crashing down on Thursday, dropping around eight percent in a single day. It was the worst day of trading for technology stocks as a whole since March.
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Apple's market capitalization slid over $180 billion as a result of the sell-off, marking the largest one-day loss in value for any company ever, according to Barron's. The report claims the previous record was set by Volkswagen in October 2008, when the automaker lost $153 billion in value in a day, shortly after a massive short squeeze.
Apple is down another five percent today as of writing, stripping the company of its $2 trillion status during intraday trading.
Apple's stock price is still twice as high as it was in late March. Despite the global health crisis, the company set a June quarter revenue record of $59.7 billion, buoyed by strong Mac and iPad sales as more people work, learn, and connect with others from home.
Apple recently announced a four-for-one stock split that took effect for shareholders of record as of August 24. Split-adjusted trading began August 31.
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Do you even know how the stock market works or you just like to write something?It will go back up to $2 Trilling once iPhone 12 is announced.
Will likely drop to a little over $100, the realistic evaluation, then start creeping up to about $175 over the course of a year or three. This is an obvious long term hold and safe haven for retirement funds.
why? investors already have that in the price of the stockIt will go back up to $2 Trilling once iPhone 12 is announced.