Apple's stock stock price has been getting clobbered since
closing at $702.10 on September 19, 2012. In a new note to BI, Oppenheimer's chief market strategist
John Stoltzfus puts Apple's decline in perspective.
Apple has "been a drag on not only the Information
Technology sector [but] broad markets".
From September 19 to December 14, Apple's market cap fell from $658.15
billion to $479.56 billion, a loss of $178.59 billion, notes Stoltzfus:
"If we list all 500 companies in the S&P 500 index
in order by smallest to largest market cap, the value erased by Apple’s decline
exceeds the cumulative total value of the 54 smallest companies–more than 10%
of the companies in the entire S&P 500 index."
Read more:
http://www.businessinsider.com/apple-market-cap-decline-in-perspective-2012-12#ixzz2FL0H2xE1
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