APPLE LOSES MORE MONEY IN ONE DAY THAN THEY HAVE IN HISTORY
September 6 was a tragic day for Apple as they recorded their biggest loss in history, with $180 billion gone in a single day.
Although Apple lost such a huge amount, the company which was founed by Steve Jobs is still worth an unfathomable $2 trillion.
The loss started when Apple stocks slid by 8%, which equated to the amount of $180 billion in loss for the iPhone makers.
As the worldwide Covid-19 epidemic continues, the world economy is facing a deep economic dip. Apple recorded their biggest percentage drop for their stock since March 16, when it fell by a total of 12.9%.
Although the economy is currently at its worst, it is no secret that Amazon (Which is larger than France’s market index), Facebook, Apple (which is larger than the UK’s market index) and Microsoft (Which is larger than Germany’s market index (DAX)), completely dominate the stocks and shares market.
Apple's stock is still up by 65% at market close since January this year, and up by 127% from this time last year.
However, during the economic crisis, the super companies, alongside Facebook, make up almost a quarter of the S&P 500. The super companies also experienced a huge increase from the 11% that they made up just two years ago.
Some people have argued that this magnificent growth in the tech market proves that we're in the midst of an unsustainable tech bubble.
Many unprofitable and unsustainable companies went bust when the public markets went all in, but technology companies has been seen growing.
Derek Thompson, of the Atlantic, stated that we're currently in a deflationary period for companies which have billed themselves as technology companies.
Thompson further explains that, even when super companies like Apple's publicly traded stocks are falling, it is private investors that are eating the losses, not public investors.
Apple, who falls under the super companies sector, has seen rising in the chaos, which only means that the company is not facing a huge threat if the stocks fall.