Apple Loses $2 Trillion Status Following Largest One-Day Loss in Market Value of Any Company Ever
Following several months of explosive growth, Apple's stock came crashing down on Thursday, dropping around eight percent in a single day. It was the worst day of trading for technology stocks as a whole since March.
Apple's market capitalization slid over $180 billion as a result of the sell-off, marking the largest one-day loss in value for any company ever, according to Barron's. The report claims the previous record was set by Volkswagen in October 2008, when the automaker lost $153 billion in value in a day, shortly after a massive short squeeze.
Apple is down another five percent today as of writing, stripping the company of its $2 trillion status during intraday trading.
Apple's stock price is still twice as high as it was in late March. Despite the global health crisis, the company set a June quarter revenue record of $59.7 billion, buoyed by strong Mac and iPad sales as more people work, learn, and connect with others from home.
Apple recently announced a four-for-one stock split that took effect for shareholders of record as of August 24. Split-adjusted trading began August 31.
Popular Stories
In an all-caps post on Truth Social today, U.S. President Donald Trump said Apple should fully end its diversity, equity, and inclusion (DEI) policies.
Tim Cook meeting with President Trump in 2017
"APPLE SHOULD GET RID OF DEI RULES, NOT JUST MAKE ADJUSTMENTS TO THEM," he wrote.
Trump's post comes one day after Apple held its annual shareholders meeting, during which a majority of...
The Apple Watch Ultra 3 is expected to launch later this year, arriving two years after the previous model with a series of improvements.
While no noticeable design changes are expected for the third generation since the company tends to stick with the same Apple Watch design through three generations before changing it, there are a series of internal upgrades on the way.
By the time the ...
In a recent press release, Apple confirmed that iOS 18.4 will be released in April.
From the Apple News+ Food announcement:Coming with iOS 18.4 and iPadOS 18.4 in April, Apple News+ subscribers will have access to Apple News+ Food, a new section that will feature tens of thousands of recipes — as well as stories about restaurants, healthy eating, kitchen essentials, and more — from the...
Apple is making significant headway on its long-rumored foldable iPhone, with a new report suggesting the company has achieved a major breakthrough by effectively eliminating the screen crease that plagues current foldable devices.
According to Korean publication ETNews, Apple is finalizing its component suppliers for the foldable iPhone, with the selection process expected to be completed...
Multiple iPhone owners today noticed a pronunciation processing issue that causes the word "Trump" to momentarily show up when using dictation to send a message with the word "racist."
In some cases, when speaking the word racist through the iPhone's built-in dictation feature, the iPhone briefly interprets the spoken word as "Trump" and "Trump" text shows up in the Messages app before being ...
Apple plans to launch a second-generation AirTag in May or June this year, according to a post today from a leaker known as Kosutami.
Bloomberg's Mark Gurman previously reported that a new AirTag would be released in mid-2025. May or June would align with that timeframe.
Below, we recap three new features rumored for the AirTag 2:
With a second-generation Ultra Wideband chip, the...
According to a post on X today from a leaker known as Kosutami, Apple plans to launch AirPods Pro 3 in May or June this year.
The leaker also claimed that an AirTag 2 will launch around the same time.
Kosutami is best known as a collector of prototype Apple hardware, but they have occasionally shared accurate information about Apple's future product plans. For example, they accurately...
The first beta of iOS 18.4 is now available, and it includes a small but useful change for CarPlay.
As we noted in our list of iOS 18.4 features, CarPlay now shows a third row of icons, up from two rows previously. However, this change is only visible in vehicles with a larger center display. For example, a MacRumors Forums member noticed the change in a Toyota Tundra, which can be equipped...
