AAPL Suffers Biggest Market Cap Loss Ever

Tyler Durden's picture

It seems like it was only yesterday when we were praising the miraculous 4 sigma move in AAPL stock, when it soared by nearly $40 in one trading session. It wasn't: it was November 19. Which is why it probably shouldn't be surprising that two short weeks later AAPL stock has just seen its biggest dollar fall in absolute terms in history, down $37 dollars or nearly 7%, its biggest one-day percentage drop since September 2008. Why? Nobody really knows, but when the world's biggest company by market cap trades increasingly like a penny stock, does anyone really care?

In absolute terms, AAPL has lost nearly $35 billion in market cap in several hours today: more than the market cap of BlackRock, Morgan Stanley or Wal-Green, with no real material news except for the occasional weak order hearsay (which one didn't really need considering the US and global consumer is totally tapped out), and various other rumors. One thing is certain: the 240+ hedge funds who owned the stock as of September 30, and which did their best to paint the tape for November, are now at a complete loss what to do to delay what was certainly going to be a redemption avalanche for the second month in a row.

Histogram of $ moves in AAPL stock in the past two years:

From near record upswing, to record downswing: is this what a healthy centrally-planned market looks like?

One thing is certain: these guys don't care. These guys are letting the margin calls go straight to voicemail.

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Silver Bug's picture

About time. This stock deserves to go down much much more.

 

http://ericsprott.blogspot.ca/

Clueless Economist's picture

Rot in hell Steve Jobs!

The millions of Chinese lives you have ruined to make your crappy products, put you on a level of evil that rivals Chirman Mao.

rajat_bhatia's picture

"true" capitalism catching up on them. BTW, when can we see some $APPL fans rioting, u know, for cinematic effect?

hedgeless_horseman's picture

 

 

...down $37 dollars or nearly 7%, its biggest one-day percentage drop since September 2008. Why? Nobody really knows...

Why?  Because every shareholder's kid wants a Samsung for Christmas.

MillionDollarBogus_'s picture

Bugger all...!!!

I sold all my precious metal and went all in on AAPL when it was closing in on $700...

I need my meds...

Karlus's picture

Cant decide between:

A) You never held PM to sell

B) You play a troll character, and like everyone here, would never sell PM

C) what you said is true because you believe your Double Long Gold ETN equals PM

TruthInSunshine's picture

MillionDollarBogus snarks the establishment, thusly.

old naughty's picture

Geewez, FX shifting, war drumming, most spied,...and now this near 7% drop?

What the world needs now, sing along...

http://www.youtube.com/watch?v=PbXsZlPbN90

SAT 800's picture

Absolutely correct; it's simply the mass mind realized.

ShrNfr's picture

More like take the capital gain and run before the Grinch nails you next year with the rates.

Tursas's picture

Comeback Kid from the north?

BurningFuld's picture

Well Samsung AND.....If you haven't looked at what RIMM is going to put out on Jan 30, 2013 you really should. A freakin' multi-tasking dynamo of an OS. It makes APPL look about as good as an old Speak and Spell:

http://betanews.com/2012/08/10/4g-lte-blackberry-playbook-makes-ios-and-...

OR this:

http://www.youtube.com/watch?v=tzxQ2YUjk50&feature=relmfu

Unless Apple is going to pull a multi-tasking OS out of their ass, watch the fuck out...........

 

GoinFawr's picture

Aaple salad tossed by RIMJobs?

Karlus's picture

>what RIMM is going to put out

Dude. Brah. 2002 called, they want their blackberry back. Its almost 2013. Next you will be talking up your palm pilot or dope Nokia phone w the blue LEDs

AlaricBalth's picture

The FRB's swap line with the Bank of Israel collateralized by BofI's AAPL position is looking more and more ominous.
http://www.zerohedge.com/news/2012-11-14/adding-insult-rocket-attacks-ba...

NotApplicable's picture

Well then, they'll just stop marking them to market then, no?

Hobbleknee's picture

Don't forget the liver he stole and wasted.

SAT 800's picture

I'm waiting patiently for Eric (place holder) Holder to prosecute every surgeon and other person who facilitated his jumping the waiting line for Liver Transplants; due to their being paid off, fraud and bribery. I'm sure this will happen any day now.

NotApplicable's picture

Allegedly, he didn't jump the line, but rather, was in all of them.

One of the benefits of having a personal jet.

mkkby's picture

Indeed Jobs was a scum bag, and may he rot in hell.  But he was the one who kept the bean counters and marketers from destroying innovation, as they have at every other US corp.

I predicted 2 years after his death, aapl would be a mediocre company -- another IBM.  Looks like the slide down has started.

TheLooza's picture

The Chinaman is not the issue here, dude.

blown income's picture

The rug really tied the room together....did it not

Crook County's picture

"AAPL has lost nearly $35 billion in market cap in several hours today". Time for the Obama-Phone program to transition into the Obama-Iphone program. Fiscal Cliff cant stop us now!!! AAPL needs a BAILOUT... fer da children!

Freddie's picture

Apple should make something that people really want and need in the very near future like - .223 and MREs.  

The Golden Horde will be f**ked when their cell service goes off when the SHTF.   

franzpick's picture

Fun reading a 1000 words here, but the picture showing AAPL filling the Jan. gap at 425 is worth more:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=aapl&insttype=Stock&freq=1&show=&x=51&y=12

Overflow-admin's picture

You CAN eat apples, at least!

Lost Wages's picture

Apple Pie at McDonald's is 2 for $1. The American Way can live on!

Renewable Life's picture

LOL,

35 Billion!!!!!! Merry Christmas hedge fund investors:) Shit should accelerate as we head toward the "cliff"!

Clown Republicans......you should be calling those idiots bluff and give em the middle finger and say, lets just let the debt ceiling hit your spending addicted asses!!! But instead your being played like a little kid trying to compete at the WSOP in Vegas!! It embarrassing really! They are so outmatched strategically at this point, they should just go home!!

Hedgetard55's picture

Wonder where Crapple would be if Ben wasn't buying it through his proxies?

Dr. Richard Head's picture

Stability is key to the Central Bank m.o.

knukles's picture

Come to think of it, which Central Bank was it that made a splash several weeks/months ago mentioning that they were starting to buy stocks and one of the first purchases was.... ta dah!... AAPL?

SAT 800's picture

having trouble remembering the name; but was it the same one that says one of its mandates is to create price stability?  LOL

lizzy36's picture

Talk about bruised fruit.

Margin clarks going to have a ball first cycle tomorrow.

Mr Lennon Hendrix's picture

Say hi to your lover boy Mark Carney for me.

GoinFawr's picture

Carney Mark and the Mark to Market Bunch-Wildslide. Bonne Chance Lizzie!

GNWT's picture

Apple = Fashion Company

See LA Gear, circa 1992

 

G

 

Stay liquid my friends...

Spastica Rex's picture

Benetton, Swatch, Zebra Club, 1986

I know.

ebworthen's picture

Pet Rocks, Cabbage Patch Dolls, Leg Warmers (though my Ex. looked so hot in those, what gams!).

Tsar Pointless's picture

Dow tops 13,000.

All that will matter tonight.