Congratulations! Apple Loses Record $463 Billion in Market Cap in Three Months

Apple set a record that will take a long time to beat. The first $ trillion company lost nearly half that in 3 months.

On, August 2, Apple became the World's First Trillion-Dollar Company at $207.05 per share. Hooray!

On October 3, Apple had a peak market cap of about $1.138 trillion.

Today, Apple's market cap is about $675 billion. That's a record market cap loss of $463 billion in three short months.

Expect more stories similar to this, but this may be hard to top. Amazon has a chance but it needs a big disaster soon.

Mike "Mish" Shedlock

Comments
No. 1-13
Casual_Observer
Casual_Observer

What say ye about the jobs report Mish ?

KansasDog
KansasDog

What a nice red waterfall. Along the way it will hit a rock, like today. Plenty of gaps to go chase lower, the water will take the easiest path. All Fangs deserve their teeth kicked in.

ReadyKilowatt
ReadyKilowatt

Part of the problem is they've lost the App Store advantage they had. Instead of mainstream applications being developed on Xcode and ported over to Android (or only apps on iOS), we're starting to see generic apps written for both platforms. This is like the bad old 1980s era commercial software, where a company would have to port code over to multiple systems. It was pretty easy to figure out by the way the software took advantage of the various features of a specific system what the core code was written for. So if a program was written by a team who's primary platform was Apple ][, the port never took advantage of sprites on the Commodore 64 or Player-missile graphics on the Atari. And if the team was well versed in SID chip audio, that knowledge almost never ported over to Atari.

I'm seeing the same thing in the App Store with regards to mainstream (highly marketed) software, and especially new hardware. I picked up a bluetooth enabled blood pressure cuff recently, which specifically stated in the description that it would work with iOS and Health Kit, but only after I was prompted to create an account on their cloud service that was a generic front end for all their other health related products. The only reason that would be needed at all is because there's no Android equivalent of Health Kit.

Once iOS becomes the second fiddle in developers' minds it's game over. I'll hold on as long as I can, and continue to seek out and support truly native apps, but I feel Apple might be headed down that path they found themselves in the 1990s, where they had a few niches, maybe some innovation, but no way to get the attention of developers.

And lower the d*** prices!

DFWRealEstate
DFWRealEstate

Nothing innovative from Apple in years, other than increasingly higher-priced gadgets with excessively overpriced flash storage memory. Who could have imagined that customers would rather pay $20 for a 128Gb storage upgrade instead of $100? The Apple ecosystem looks more like carefully crafted wealth extraction, rather than innovative tech.

Sechel
Sechel

price of phone keeps going up. new customers are not. i don't see how this model is sustainable. with phones now in the four digit price category upgrade cycles have to increase and if not Apple becomes vulnerable to margin pressure and discount phones. i'm actually surprised they've survived this long