“Apple was widely applauded for becoming the first American company to break the trillion dollar barrier,” Jack Schofield reports for ZDNet. “However, its value has slumped to $839bn for a variety of reasons, though other technology stocks have also suffered in a stock market reversal.”
“Apple’s value has fallen by more than $220 billion over the past few weeks,” Schofield reports. “The first publicly traded American company to reach a trillion-dollar market capitalization has seen its value tumble to around $839bn at the time of writing.”
“So far, the effects have not been terrible for long-term Apple shareholders,” Schofield reports. “The $176.78 price tag (see graph) is still higher than the $175 at which they started the year, and comfortably ahead of the 52-week low of $150. Five years ago, they were half that. Ten years ago, they were less than $5.”
Read more in the full article here.
MacDailyNews Take: Never has an overreaction cost so much on paper. $220+ billion!
This too shall pass. May you buy exactly on the low.
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