Apple lost $ 180 billion in market value on Thursday

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Apple

The stock fell 8% on Thursday, a Rotten day for technology stocks. This translates to a loss of approximately 180 billion in the market capitalization of iPhone manufacturers. It’s the biggest ODI loss in value for any company, but it still leaves Apple with a market cap of over $ 2 trillion. Big numbers are fun.

The previous ODI loss record was weird. Back in October 2008, he became a manufacturer of sports cars

Porsche

They revealed that they had gained control over the majority voting shares

Volkswagen

(VOW.Germany). That’s it Set up a huge small squeezeIt held Volkswagen shares 82% higher and briefly the most valuable company in the world at -348 billion dollars, which is very low by today’s standards.

The next day things normalized a bit and VW stock lost 44% or 3 153 billion in market value.

In the US, the biggest ODI market cap loss before 2020 was

Facebook

(FB) on July 26, 2018, following the stock Earnings report the evening before. Facebook’s second-quarter results were good, with earnings and sales matching the Wall Street consensus. But following the Cambridge Analytica scandal and other pressures on the company’s business model, Facebook has warned that its revenue growth and profit margins will decline significantly in the coming quarters and years.

The next day the stock fell 19%, losing more than $ 119 billion in market value.

A pair of days in March 2020 saw more than $ 150 billion in market cap losses from Apple

Microsoft

(MSFT) Stocks.

Apple’s loss on Thursday was bigger than the individual market caps of 470 companies

S&P 500

37 or below 37 combined. This is the biggest drop since Apple stock fell 12.9% since March 16.

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But, like the rest of Tech, the Apple stock is still green for practically any timeline. Adjusted for the recent stock split on Thursday, the $ 120.88 close was the lowest level since August 20—10 trading days ago. The stock has risen 65% since the beginning of 2020, and 127% compared to last year. It’s hard to feel bad about that return even after a rotten day.

Apple stock worst performance

Dow Jones Industrial Average

On Thursday, it closed 2.8%. The

S&P 500

Lost 3.5%, tech-heavy

Nasdaq Composite

Dropped 5%.

Write to it Nicholas Jasinski at [email protected]