From Friday’s New York Times:
Even the most successful companies could not dodge Thursday’s carnage. Shares of Apple fell 2.75 percent, knocking more than $22 billion off its market value.
From Bank of America Merrill Lynch’s Wamsi Mohan (via CNBC):
In times of market turmoil, we turn to large cap stocks with low leverage, high cash balance, and attractive valuation. Apple offers all this as well as opportunities for future growth.
My take: Okay, but Bank of America Merrill Lynch seriously needs a new name.