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Apple (AAPL) diehards who keep saying the stock "will come back" are going into hibernation today.
Shares of the gadget maker Friday closed down another 2.8% Friday to $105.93 — knocking the stock down 21% from its recent high of $134.54. The breathtaking decline not only puts Apple into a bear market - defined by a 20% drop — but has obliterated a staggering $160 billion in shareholder wealth from the top.
Just to put that into perspective, Apple's $160 billion decline is larger than 477 companies in the Standard & Poor's 500 are worth.
A drop this big is the financial equivalent of wiping out the market value of entire companies like Pepsico (PEP) at $146 billion, International Business Machines (IBM) at $133 billion or Nike (NKE) at $111 billion.
originally posted by: nullafides
a reply to: NightSkyeB4Dawn
And you didn't recognize words dripping in a vitriolic fashion with sarcasm ?
Personally, I'd never buy an Apple product because I think their software, OS, and hardware blows. Never cared for it.
From a standpoint of liquidity, I'm glad to see the fashionable cult finally starting to unravel.
"So much style without substance, so much stuff without style...hard to recognize the real thing, it comes along once in awhile..."
originally posted by: NeoSpace
I don't know why people give them so much money anyway, their Mac/iMac can not be customised or upgraded like regular desktop PC's.
Their iMac they charge £1,500 for I can build a PC with the same specs for around £500, and you can do alot more with a Windows PC than a Mac.
originally posted by: jobless1
from a security stand point apple is good because they lock down everything and they make sure their programming is done well. So the professionals who always give me that argument I understand. But that's where it ends for me.
originally posted by: NightSkyeB4Dawn
Their devices will make sure their massive cult followers are iconnected to the icollective.
originally posted by: Xtrozero
originally posted by: jobless1
from a security stand point apple is good because they lock down everything and they make sure their programming is done well. So the professionals who always give me that argument I understand. But that's where it ends for me.
We do not know what they have up next, but typically they come out with the new "thing" and everyone else copies it and makes it better. Selling 13 million IPhone 6s in one weekend doesn't hurt either so I do not think their sales are lacking.