By Estefania • 05 September 2020 • 0:47
WHEN it comes to setting records Apple leads even in the stock market, the company shares shed 8% on Thursday losing $180 Billion in a single day, the highest drop in history.
Apple now has the largest one-day loss in value for any company ever, after investors dumped shares in some of the biggest companies leading to a long and complicated path to economic recovery. As well as other tech corporations, the drop isn’t that bad and still leaves Apple with a market cap of well over $2 trillion.
The last record in the U.S. came from Facebook stock on July 26, 2018, losing over $119 billion in market value.
So, don’t worry, Apple is not going anywhere. Despite that massive loss, it is still very solid as the company’s stock was up 65 percent at the market close from January 2020 and up 127 percent from that time last year.
This wasn’t a good week for tech enterprises and specialists are speculating about what is the reason behind this “tech selloff”. The intense drop constituted the stock market’s worst widespread fall since June and has interrupted the slow recovery from the decline that occurred at the beginning of COVID-19 lockdowns.
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