“On Monday morning, a huge, sudden selloff resulted in Apple’s biggest stock price drop in months,” Marcus Wohlsen writes for Wired. “At one point, the world’s most valuable company saw about 6 percent shaved off its nearly $700 billion market cap before recovering enough to cut that loss in half.”

“The temptation when Apple or any company sees this kind of a slide is to look for some broad reason for a loss of confidence. But as the smartphone market reaches maturity and competitors struggle, Apple is in a better spot that any other company,” Wohlsen writes. “The striking thing about Apple at this moment isn’t how many dollars lost in a one-day dip means. It’s how the market for mobile technology is coalescing in the company’s favor to push Apple’s value to $1 trillion.”

“If you’re still holding Apple shares you bought five years ago, your return so far has been greater than 400 percent,” Wohlsen writes. “At that pace, Apple’s market cap would hit $1 trillion sometime around August 2016.”

Read more in the full article here.