On Jan. 25, 2012, Apple Inc. passed Exxon Mobil as the most valuable publicly-traded company in the world. The gap between #1 and #2 had widened to as much as $240 billion by September 2012 as Apple shares hit all-time record highs. You know, back when we all should have sold our AAPL stock (wink).
“That gap alone is greater than the value of some 98% of the companies in the S&P 500,” Steven Russolillo noted for The Wall Street Journal. “Over the summer Apple even gained the title of biggest U.S. company of all-time, surpassing Microsoft's previous peak in 1999.” (See related articles below.)
“But Apple's fall in recent month has been fast and furious. Thursday alone, the company's market cap fell by as much as $59.48 billion, according to WSJ Market Data Group,” Russolillo reports. “At one point, the gap between Apple and Exxon's market cap had narrowed to only about $6.2 billion.”
Read more in the full article here.
MacDailyNews Take: Damn that all-time record performance! Damn it all to hell!
Embrace the lunacy, folks, for calmer, saner heads will someday prevail and this too shall pass.