Apple is very good at setting records. Apple shares threw a neat 8% on Thursday, a bad day for technology action around, which equates to a loss of around 180 billion dollars in market value or around the total value of IBM, Dell and HP.
Nicholas Jasinski for Barron’s:
It is the largest one-time loss in value for any company ever, but still gives Apple a market value of well over $ 2 trillion. Big numbers are fun.
The previous loss record in one day was weird. Back in October 2008, the sports car manufacturer Porsche revealed that they had gained control of a majority of voting shares in Volkswagen. It gave a massive short press, which drove Volkswagen shares 82% higher to briefly become the most valuable company in the world – to $ 348 billion dollars, lean by today’s standards. Things normalized a bit the next day, and VW shares lost 44%, or $ 153 billion dollars in market value.
In the US, the biggest loss in a day’s market value came from the Facebook share on July 26, 2018 … and lost over $ 119 billion in market value.
MacDailyNews Take: You have to take the bad with the good, and fortunately AAPL shareholders have had a lot of good this otherwise so tired year (so far). Thursday’s end of $ 120.88 is the lowest since just August 20 – just 10 trading days ago. Apple shares have continued to rise 65% since the beginning of the year, which must not be named, and up 127% in the last twelve months. 🙂