“Apple Inc.’s share decline Wednesday wiped almost $43 billion off the iPhone-maker’s market value in just one hour,” Alex Webb reports for Bloomberg.
“That’s more than the entire market capitalization of multinationals such as Deutsche Bank AG and Glencore Plc, as well as technology companies Netflix Inc., eBay Inc. and Electronic Arts Inc.,” Webb reports. “The difference between Apple’s market value of about $540 billion and the next biggest company, Google parent Alphabet Inc., is still about $55 billion — or approximately the capitalization of BMW AG.”
Apple also lost more than the entire market value of Tesla Motors in one hour.
Check out the chart in the full article here.
MacDailyNews Take: Perspective.
So, as the chattering armchair coaches have been claiming, Apple should have bought Tesla. No doubt the market would have rewarded Apple handsomely and the stock would have increased in value the equivalent of the purchase price. Or, as is Apple’s luck, maybe not. But just think how cool a Jony Ive designed rocket would look hurtling toward Mars.
Apparently, Apple cannot afford to buy Tesla now. That money is all disappeared.
So either Apple is a GIGANTIC company or all these others, meh, not all that large… or both.
Yes, but Tesla has actual cars people can drive- today.
The rumored Apple Car is the auto equivalent of Vaporware.
No electric car sold today can match it in range, performance or support. A growing worldwide network of SuperChargers exist to allow you rapid recharge of your batteries – about 80% in 40 minutes and are conveniently located along major routes.
Apple has a lot of money. Tesla, while smaller, has the end product of a huge investment of time and money. They also have a significant patent portfolio and have chosen to share it.
Money cannot buy time, experience or first mover patents.
If something is rumoured, then it’s merely a rumour. Vapourware is when the manufacturer announces something but fails to deliver it on time. As Apple hasn’t announced anything, all you have is rumours.
As for all your stuff about Tesla, the story only mentioned Tesla because the author wanted to give an example of a company that was currently worth approximately the same as Apple’s market cap shrank. It could just have easily been one of a number of other companies.
That didn’t help Microsoft much in the mobile device dept..
Remember Courier?
Sure, the one product many actually wanted from Microsoft that they craftily cancelled, snatching defeat from the jaws of victory.
SUCH Supah-Geeen-yas.
Hey Apple fanbois, don’t fall in love with a dead man’s stock, its curtains for Apple.
Good joke since it’s historically what all doofuses say before the embarrassment of being proved spectacularly wrong.
Keep looking on the bright side, bloodypecker, it could have been worse.
God knows you’ve never had a bright side, prospects or outlook.
👍👍👍👍👍👍👍👍👍🌟
Not since Tim Cook took the reins. How do Apple’s fiscal woes, Icahn’s sell off, and recent suicide bode well for Apple? What is the bright side of all this? I know, it could have been worse.
What makes you think this situation is in any way permanent?? (You wish, being the Apple Hater you obviously are.) Every company has it’s ups and downs (and the economy too) the difference is Apple is still making more than Google, Facebook & Microsoft together dipshit. How do you reconcile being such a born clueless idiot? You know nothing and react with a superficial specious simple understanding to one quarterly result not realizing it’s a moving target. Really, stop embarrassing yourself.
Putting aside how bad the results may or may not have been, as I understand it they were broadly in line with Apple’s guidance. Analysts say they’re disappointing because they predicted much more. Surely anybody who listened to those analysts needs to be questioning why they’re paying attention to people who clearly don’t know what they’re doing.
Apple’s overall value appears to be a quick downward slope for the past year and a half. There doesn’t seem to be anything to stop it from falling further. Even though it’s down, the news media keeps trying to knock the stock down even further. I guess it is what it is. Nothing lasts forever. Amazon is spinning circles around Apple in terms of share price gains. Jeff Bezos is doing what needs to be done and Tim Cook isn’t. I can’t imagine why any new investors would buy Apple stock when they know they’re not going to see any share price gains. Even for dividends, they might as well buy Microsoft or IBM to get more bang for the buck.
For those who say Apple stock is cheap, it just keeps getting cheaper. I’m just not sure if that’s really a good thing. It’s always the last tech stock to rise and the first tech stock to fall. That’s hardly praiseworthy of any investment.
🖕 troll
Here we go. A single monosyllabic retort. The intellectual equivalent of a dud. An ineffectual and meaningless effort. A sign of no insight, perception, understanding, or awareness. Pathetic.
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