In any other circumstances, for any other company, if I told you that the stock had climbed from $411.23 at the start of the year to $609.54, you’d be in awe.
But since we’re talking about Apple, and since the stock was at $702.10 last month, and since it’s dropped 13 percent over the last month or so, then what you have is a massive investor freak out on your hand.
And if that carnage wasn’t enough, Apple missed earnings projections on Thursday. Which caused a whole new round of investor rioting, which caused the exchange to halt trading while investors took a chill pill.
The bottom line thus far in the Apple stock massacre: The company has lost $86 billion in market value since late September. It’s now worth about $571 billion, but we’ll see whether investors wake up tomorrow carrying torches and pitchforks when trading begins on Friday.
In which case, it may be time to start an office pool to call the bottom for Apple’s stock.
1 comment
JackFM
It had to happen sooner or later. Apple is losing ground on all fronts; ipod sales are nothing impressive anymore, Android phones outsell the iPhone, and now 48% of the tablet market to Android. That along with the reality that decades of effort has only brought Apple a paltry 5% of the global market in home computers, doesn’t make them worth the hype at the end of the day.
Oct 26, 2012