In Thursday’s plunge, Apple fell 2.75%, the Dow 4.06%

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.



  1. Phil Service said:
    Not a comment but a question. How much of the movement in AAPL on days like yesterday (Feb. 8) is due to “collateral damage”, by which I mean trading by index funds of which AAPL is a component.

    February 9, 2018
    • I don’t have the answer to your question. Maybe someone here does. Meanwhile, a few of stats:
      — 141 ETFs have Apple Inc within their Top 15 holdings
      — Thomson Reuters has institutions currently holding 62.3% of Apple’s shares
      — CNBC reported last May that “A quartet of tech heavyweights — Apple, Microsoft, Amazon and Facebook — collectively make up more than 10 percent of the S&P 500.”

      February 9, 2018

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