“In only three months, Apple has lost $452 billion in market capitalization,” Michael Sheetz reports for CNBC.
“Apple shares have fallen by 39.1 percent since Oct. 3, when the stock hit a 52-week high of $233.47 a share,” Sheetz reports. “With its market cap down to about $674 billion, those losses are larger than individual value of 496 members of the S&P 500 — including Facebook and J.P. Morgan.”
“Microsoft, Amazon, Alphabet and Berkshire Hathaway are the only S&P 500 members with larger market caps than Apple’s loss since its recent high,” Sheetz reports. “$446 billion is more than double the size of Wells Fargo, more than three times the size of McDonald’s, more than five times the size of Costco, [and] more than 10 times the size of Raytheon.”
Read more in the full article here.
MacDailyNews Take: Yeah, there’s no overreaction to see here. None at all. Apple’s only going to bring in revenue of $84 billion for a period of 90 some odd days. The horror! That’s easily worth a $446 billion haircut, right?
BTW: If you can spot overreactions in the market, you can profit from them.
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