Apple's market coverage has taken a heck in the last six weeks.
Advertisement A new report notes that tech's FAANG shares (that's Facebook, Apple, Amazon, Netflix and Google) have lost a total of $ 728 billion of their total value in one and a half months. That is a little more than GDP in Saudi Arabia, and only slightly less than in the Netherlands.
Of the current companies, Apple has seen $ 231.06 billion settled its value since October 3, $ 220.67 billion from Amazon at the same time, $ 138.22 billion from Google, $ 89.95 billion from Facebook and $ 48.11 billion from Netflix.
Apple, as the most valuable company on the list, has lost the most. By calculating, I've lost more of market coverage over the last six weeks than the accumulated value in its first 30 years as a listed company. It took September 2010 – after Steve Jobs came back, the launch of iMac, iTunes, iPod, iPhone and iPad – for Apple to be valued at over 230 billion dollars.
However, Facebook has suffered the longest losing line. It is currently on track for its third monthly loss, while the Facebook stock on Monday hit its lowest level since early 2017.
The market will not restore to Apple makes
As a number of analysts have pointed out, the technology market has pulled down the rest of the market with it. S & P 500, DOW 30 and NASDAQ 100 dropped everyone on Monday. Mad Money The host Jim Cramer believes the market will not get to Apple makes.
"This market can not stabilize before Apple stabilizes," he told CNBC . "My view? Apple is a long-term team, with its large installed base that gives the company's service revenue stream a lot of space to grow, and therefore you own it [and] does not handle it, he says." However, I can not blame any big accounts for dumping it, and at least in the short term, I do not expect the stock to the bottom of some analysts to downgrade it. "
Source: Business Insider