Apple plummets 22% from January peak as tech stock selloff spreads

Apple shares fell on Thursday, with the stock now some 22% below its January peak as a selloff in technology stocks spreads to the world’s biggest companies.


Jeran Wittenstein, Subrat Patnaik, and Ryan Vlastelica for Bloomberg News:

The slump has erased about $696 billion in Apple’s market value since the Jan. 3 record, a slump that enabled Saudi Aramco — which has benefited from this year’s surge in oil prices — to overtake the tech giant as the world’s most valuable company.

The widespread tech weakness has been spurred by concerns about inflation and rising interest rates. The Nasdaq 100 Index has slumped more than 7% over the past four days and on track for a sixth straight negative week, its longest losing streak since 2012.]

While the tech-heavy Nasdaq 100 has been under pressure all year, Apple’s decline has been relatively recent. The stock has fallen nearly 10% this week alone amid mounting concerns about an economic slowdown.

The stock is still outperforming the tech-heavy Nasdaq 100 index, which has lost nearly 30% of its value this year, compared with Apple’s year-to-date decline of about 19%.

MacDailyNews Take: Yes, yes, we’ll take sub-$140! Apple dividends are paid today and we’ll always reinvest at a deep discount!

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  1. I’m selling. Then I’m holding that cash and wait until Apple stock tanks even more thanks to Bidenomics policies and regulations as they continue to make America Last because even Obama knows when he said “Don’t underestimate Joe’s ability to f— things up.”

    The best, uh, worst is yet to come!

  2. AAPL getting absolutely SLAUGHTERED in the market right now. Massive, unrelenting selling. Staggering levels of volume, showing that wholesale liquidation of all AAPL shares is going on now. Massive institutional selling is underway completely destroying the share price.

    Thank god we have Tim Cook’s buy backs! The knob slobbers will be happy to keep up with that but everyone else now knows what a complete and total fraud Tim Cook is. You do not see such crushing volume of selling when you have a shareholder base that BELIEVES in Apple.

    Chief Apple knob slobber MDN was so happy to see the share price drop below $150. Now breaking $140 is almost here. Is MDN goes to just love it when $130 is crossed? $120?

    Then there are the cretinous morons who rave about Apple’s “dividend”. Oh boy. Yes, I got my $2k dividend just now. That is a nice comfort to hold onto as I look at my $500k in losses so far.

    FIRE Tim Cook!

  3. I am an old hand here with AAPL. You have to accept that this stock will lose 30% of the highest stock price at any time. It has always bounced back, but if you are buying on margin, FOLLOW MY RULE OR DIE.

  4. The drop in AAPL isn’t about Apple directly but about the market in general. A (self-inflected) Spike in energy cost triggered the inflation bomb. While “drunken sailor” spending by the fed is only dumping fuel on the fire. So don’t blame Apple directly for the drop in their stock price, but they did cheer for the fools in charge. Americans finical chickens are coming home to roost and farmer Biden is clueless what day it is much less what to do about the economy. Buy and hold AAPL past 2024

  5. Over reliance on China is coming home to roost. Tim Cook has been called a supply chain genius. The reality is that he’s a one trick pony with an overly compliant Board of Directors. Please explain the value added by Al Gore, for example.

    1. Yep. Well said. The vast majority here at MDN, including MDN, are Tim Cook knob slobbers who live in a fantasy world. Cook has put ALL his eggs into China, which is not only an authoritarian dictatorship, with a horrific record on human rights, but also just plain stupid beyond belief. China’s zero COVID policy will not and cannot work. Ever.

      FIRE Tim Cook!

    2. Al Gore is a waste on the Board of Directors. Made hundreds of millions—if not a billion—in stock appreciation and meeting fees whilst giving nothing of value.

    3. For legal reasons, I want to make it clear that these are just my opinions; gleaned from reading historical records concerning this person; you can check them out for yourself to confirm their veracity. Here goes:

      Al Gore; the recipient of illegal China funds during the Clinton / Gore elections. They pulled it off by staging fake Buddhist monks events with Gore as speaker. Then, miraculously, huge “donations” flowed into the campaign. Who’d have thought—there were rich Buddhist monks roaming the world just eager to give megabucks to American crooked politicians.

      How in Hell did Gore worm his way onto the Apple board? He has likely gained billions$ in the process and contributed nothing to Apple. He also has been a major owner of Occidental Petroleum stock for 40 years because his father, Senator Gore Sr., was an operative of the founder, Armand Hammer who also greased trade deals with the USSR during the 1930s-1970s thanks to the senior Gore.

      BTW, Al junior lived in a penthouse hotel suite in Washington DC while growing up. He also “served” in the US Army as a fake reporter thanks to preferential arrangements his father pulled off for him to look good later on. Al Jr. also was kicked out of divinity school (college) for bad behavior. IMHO, just another Ted Kennedy—a bum.

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