Post by Deleted on Dec 20, 2015 9:51:02 GMT 7
Apple (AAPL) diehards who keep saying the stock "will come back" are going into hibernation today.
Shares of the gadget maker closed down another 2.7% Friday to $106.03 — knocking the stock down 21% from its recent high of $134.54. The breathtaking decline not only puts Apple into a bear market - defined by a 20% drop — but has obliterated a staggering $160 billion in shareholder wealth from the top.
Just to put that into perspective, Apple's $160 billion decline is larger than 477 companies in the Standard & Poor's 500 are worth. A drop this big is the financial equivalent of wiping out the market value of entire companies like Pepsico (PEP) at $146 billion, International Business Machines (IBM) at $133 billion or Nike (NKE) at $111 billion.
Continues
www.usatoday.com/story/money/markets/2015/12/18/apple-bear-market-aapl/77560080/
Shares of the gadget maker closed down another 2.7% Friday to $106.03 — knocking the stock down 21% from its recent high of $134.54. The breathtaking decline not only puts Apple into a bear market - defined by a 20% drop — but has obliterated a staggering $160 billion in shareholder wealth from the top.
Just to put that into perspective, Apple's $160 billion decline is larger than 477 companies in the Standard & Poor's 500 are worth. A drop this big is the financial equivalent of wiping out the market value of entire companies like Pepsico (PEP) at $146 billion, International Business Machines (IBM) at $133 billion or Nike (NKE) at $111 billion.
Continues
www.usatoday.com/story/money/markets/2015/12/18/apple-bear-market-aapl/77560080/
