Market decline

Apple’s shocking market decline in the offing [Infographic]

After suffering unexpected and catastrophic losses on Thursday when its stock fell nearly 10%, Apple’s fortunes improved on Friday when it was up 4.3% at the end of the market. The company was still down 5.1% for the week after lowering its forecast for its first fiscal quarter due to slowing iPhone sales and slowing economic growth in China. Thursday was Apple’s worst day trading since 2013 and the company has lost an incredible market cap of $ 452 billion since October 3, 2018.

Last week, some observers called the crisis a little hiccup while others said it was a major disaster. Either way, it is interesting to put the magnitude of the erasure into perspective. The losses of $ 452 billion are greater than the individual market cap of Facebook ($ 378.6 billion), Alibaba ($ 355.9 billion) or JPMorgan Chase & Co. ($ 322.9 billion). It’s also about six times the market value of Starbucks.

In early August, Apple beat Amazon to become the world’s largest trillion-dollar company after its shares hit $ 207.05. Last week, its market value dropped to $ 674 billion and it currently stands at $ 703 billion with shares valued at $ 142.19. With no breakthrough product in the pipeline, some analysts have suggested that Apple take the unprecedented step of acquiring a company capable of improving its fortunes. Given his track record, however, that seems highly unlikely and he will likely have to find another way to appease his investors.

* Click below to enlarge (represented by Statista)