Dropping over $ 110 billion in value after a day, Apple stock 'evaporated' a record in history

Since the end of January, Apple has evaporated more than $ 350 billion.

In a bloody day on the US stock market, Apple stock has become one of the hardest-hit items to worry about the spread of corona virus. In a nightmare day, when the Dow Jones 30 fell to 10% of value, Apple shares also suffered catastrophic equally.

Apple shares fell $ 27.2, or 9.9%, to close at $ 248.23 on Thursday. Since February 13, the technology giant's stock has dropped $ 76.64. Compared to the same period last year, Apple shares fell by 15.5% in value.

Dropping over $ 110 billion in value after a day, Apple stock 'evaporated' a record in history Picture 1

Since the end of January, Apple stock has plunged $ 350 billion. Particularly in the trading day yesterday, the company's value has decreased to 119 billion.

The Down Jones industrial index, although having experienced a week of decline, continued to lose an additional 10% in the last trading day. Ending the trading day, the index closed at 21,200.62 points. Since the dark Monday in 1987, when the index fell 22%, this is the first time the Dow Jones has lost 10% in one session.

Yesterday, the value of the five largest US tech companies - Apple, Amazon, Alphabet, Facebook and Microsoft - lost a total of $ 416 billion in value.

While many analysts still have faith in Apple, they are concerned that the company stock - as well as the entire market - will continue to adjust for the next few days, even weeks, as worries about the virus will continue. Corona continues to spread.

"There is no doubt that Apple is a great company," said Craig Johnson, a leading technology research analyst at Piper Sandler. Great stock. " Johnson believes that if Apple shares fall another 10-12%, that would be a good price to buy.