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Apple has lost more than $ 500 billion in market value so far this month

Apple has lost more than $ 500 billion in market value since the beginning of this month, CNBC reported this weekend.

To put the figure in perspective, it’s a little more than the market value it took Apple’s first 36 years of existence to climb to. (Apple passed only $ 500 billion in 2012, the year after Tim Cook took over as CEO.)

Apple reached its high rating on September 2. This was shortly after Apple shares split 4-to-1. Following the split, Apple shares rose to $ 137.98 each. At the time of writing, the AAPL was trading at $ 106.84 before the markets opened on Monday. This gives Apple a market value of 1.82 trillion dollars, no longer above the valuation of 2 trillion dollars it crossed in August.

CNBC blames some of the decline for what it claims was a relatively boring Apple event last week. For the first time in many years, Apple did not announce any iPhones at the event. Instead, they will likely be announced at their own event next month.

Toni Sacconaghi, senior research analyst at Bernstein, referred to Apple̵

7;s “Time Flies” incident as “relatively overwhelming.” At the event, Apple unveiled new iPads, along with the Apple Watch Series 6, Apple Watch SE and Apple One subscription service.

“We believe it can be difficult to move users from competitive music, video or gaming services, where they are often rooted,” Sacconaghi wrote in a note to clients. “We continue to believe that Apple should take a more creative approach to packaging hardware [and] services in integrated subscription packages. ”

Part of the larger technical sale

If people really dump their stock because of no new iPhones, it seems very unwise a month before there are new iPhones. The bigger problem is a wider sale of technical shares. The Nasdaq Composite, which is highly technologically centric, has fallen more than 10% from its record high. There is no doubt that Apple’s climb in the last couple of years – more than doubling in size since 2018 – is meteoric. But it’s also because Apple has incredibly strong basics, even at a time when smartphone sales have peaked.

Do you think Apple has anything to worry about? Did it get too big too fast? Want to guess where the stocks will be (up or down) coming December this year? Let us know your thoughts in the comments below.

Source: CNBC

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