You are using an older browser version. Please use a supported version for the best MSN experience.

Apple just lost a Facebook: Market value decline since peak exceeds value of nearly any US company

CNBC logo CNBC 1/4/2019 Michael Sheetz

UP NEXT
UP NEXT
In only three months, Apple has lost $446 billion in market capitalization – and counting, as the tech giant's stock continues to plunge on Thusday.

Apple shares have fallen by more than 38 percent since Oct. 3, when the stock hit a 52-week high of $233.47 a share. With its market cap down to about $682 billion, those losses are larger than individual value of 496 members of the S&P 500 – including Facebook and J.P. Morgan.

Microsoft, Amazon, Alphabet and Berkshire Hathaway are the only S&P 500 members with larger market caps than Apple's loss since its recent high.

To put the Apple market value plunge in context, $446 billion is:

  • more than double the size of Wells Fargo
  • more than three times the size of McDonald's
  • more than five times the size of Costco
  • more than 10 times the size of Raytheon

Apple gave a sudden warning to investors on Wednesday afternoon, lowering its fiscal first-quarter revenue guidance. Wall Street analysts reacted by saying this will represent Apple's "biggest miss in years" and said the company's announcement "raises more questions than answers." Apple CEO Tim Cook's letter to investors blamed a variety of actors for the guidance cut, including declining iPhone revenue and China's weakening economy.

At last count, the shares were down 10 percent on Thursday.

– CNBC's Chris Hayes contributed to this report.

Poll

  • Oil prices have been volatile. How are you reacting?

    Not scientifically valid. Results are updated every minute.

    Total responses:21849VOTES
AdChoices
AdChoices
AdChoices

More from CNBC

image beaconimage beaconimage beacon