Apple Loses $2 Trillion Status Following Largest One-Day Loss in Market Value of Any Company Ever

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.

Tag: AAPL

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Top Rated Comments

rneglia Avatar
49 months ago
Is this because of the AppleTV remote?
Score: 42 Votes (Like | Disagree)
Andy-V Avatar
49 months ago
Wow, below $2 trillion? Might as well shut it down.
Score: 27 Votes (Like | Disagree)
NBAasDOGG Avatar
49 months ago

It will go back up to $2 Trilling once iPhone 12 is announced.
Do you even know how the stock market works or you just like to write something?
Score: 25 Votes (Like | Disagree)
Aston441 Avatar
49 months ago
Meh. Expected after the split.

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.
Score: 21 Votes (Like | Disagree)
markfc Avatar
49 months ago
Does that mean I’ve earned more money than Apple today? ?
Score: 14 Votes (Like | Disagree)
dukebound85 Avatar
49 months ago

It will go back up to $2 Trilling once iPhone 12 is announced.
why? investors already have that in the price of the stock
Score: 12 Votes (Like | Disagree)