Apple has lost 22.5% from a record high intraday of $ 137.98 from September 2, resulting in a loss of around 536 billion dollars in market value.
It took just 12 trading sessions for Apple to shed more than 20% of its full-time, throwing over half a trillion in market value.
Apple’s weakness in recent weeks also came amid widespread sales in the technology sector as investors rotated out of the market-leading high-flyers. The technically heavy Nasdaq Composite has plunged into the correction range, down more than 10% from the record high. Some investors believe that the sale of tech lovers comes from concerns about high valuations that have gone too far, too fast.
Before the last sale, shares in Apple increased by 21.4% in August alone, when the announcement of the share split triggered a crazy rally …
Some analysts see Apple coming back from here, given its megacap position and history of quality products.
Loup Ventures Gene Munster said the most important takeaway from the Apple event is how the company “masterfully sells consumption … They can get away with it, and the reason is that they have some of the best products in the world,” Munster told CNBC’s “Fast Money. “On Tuesday.” They have good products, and consumers are looking the other way, the price premium in relation to value. ”
MacDailyNews Take: As of December 31, 2019, Apple closed at $ 73.41. At the end of the day at $ 106.84, Apple is up 45.53% for the year so far – not a bad return, especially in the midst of a global pandemic —— with iPhone 12, iPhone 12 Max, iPhone 12 Pro and iPhone 12 Pro Max ready for unveiling and launch. Continue the course.