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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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Wed, 12/05/2012 - 17:02 | 3037071 Silver Bug
Silver Bug's picture

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



Wed, 12/05/2012 - 17:06 | 3037079 Clueless Economist
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.

Wed, 12/05/2012 - 17:09 | 3037103 rajat_bhatia
rajat_bhatia's picture

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

Wed, 12/05/2012 - 17:14 | 3037121 hedgeless_horseman
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.

Wed, 12/05/2012 - 17:15 | 3037132 rajat_bhatia
Wed, 12/05/2012 - 17:50 | 3037298 Enslavethechild...
EnslavethechildrenforBen's picture

AAPL is a fucking Tulip Mania

Wed, 12/05/2012 - 18:16 | 3037324 TruthInSunshine
TruthInSunshine's picture


Wed, 12/05/2012 - 18:28 | 3037424 MillionDollarBogus_
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...

Wed, 12/05/2012 - 19:32 | 3037577 Karlus
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

Wed, 12/05/2012 - 19:35 | 3037582 TruthInSunshine
TruthInSunshine's picture

MillionDollarBogus snarks the establishment, thusly.

Thu, 12/06/2012 - 02:03 | 3038380 old naughty
old naughty's picture

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

What the world needs now, sing along...


Wed, 12/05/2012 - 19:36 | 3037591 SAT 800
SAT 800's picture

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

Wed, 12/05/2012 - 17:20 | 3037166 ShrNfr
ShrNfr's picture

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

Wed, 12/05/2012 - 17:37 | 3037245 Tursas
Tursas's picture

Comeback Kid from the north?

Wed, 12/05/2012 - 17:44 | 3037281 BurningFuld
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:


OR this:


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


Wed, 12/05/2012 - 18:30 | 3037419 GoinFawr
GoinFawr's picture

Aaple salad tossed by RIMJobs?

Wed, 12/05/2012 - 19:35 | 3037588 Karlus
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

Wed, 12/05/2012 - 18:49 | 3037466 monkeyboy
monkeyboy's picture


Wed, 12/05/2012 - 22:27 | 3037993 lakecity55
lakecity55's picture


Wed, 12/05/2012 - 17:14 | 3037123 The Shootist
The Shootist's picture

BaNaNa DaNcE bItChEz!

Wed, 12/05/2012 - 17:50 | 3037291 Daily Bail
Wed, 12/05/2012 - 17:18 | 3037151 AlaricBalth
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.

Wed, 12/05/2012 - 19:10 | 3037521 NotApplicable
NotApplicable's picture

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

Wed, 12/05/2012 - 17:09 | 3037107 Hobbleknee
Hobbleknee's picture

Don't forget the liver he stole and wasted.

Wed, 12/05/2012 - 19:02 | 3037500 SAT 800
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.

Wed, 12/05/2012 - 19:12 | 3037523 NotApplicable
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.

Thu, 12/06/2012 - 18:12 | 3040700 mkkby
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.

Wed, 12/05/2012 - 17:09 | 3037109 TheLooza
TheLooza's picture

The Chinaman is not the issue here, dude.

Wed, 12/05/2012 - 17:15 | 3037138 Ness.
Ness.'s picture

I like turtles too.

Wed, 12/05/2012 - 19:35 | 3037585 blown income
blown income's picture

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

Wed, 12/05/2012 - 17:50 | 3037305 Crook County
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!

Wed, 12/05/2012 - 19:39 | 3037599 Freddie
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.   

Wed, 12/05/2012 - 22:35 | 3038012 franzpick
franzpick's picture

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


Wed, 12/05/2012 - 17:02 | 3037072 Overflow-admin
Overflow-admin's picture

You CAN eat apples, at least!

Wed, 12/05/2012 - 17:07 | 3037098 Lost Wages
Lost Wages's picture

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

Wed, 12/05/2012 - 17:53 | 3037312 Renewable Life
Renewable Life's picture


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!!

Wed, 12/05/2012 - 17:03 | 3037078 Hedgetard55
Hedgetard55's picture

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

Wed, 12/05/2012 - 17:04 | 3037081 Dr. Richard Head
Dr. Richard Head's picture

Stability is key to the Central Bank m.o.

Wed, 12/05/2012 - 17:22 | 3037173 knukles
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?

Wed, 12/05/2012 - 19:07 | 3037511 SAT 800
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

Wed, 12/05/2012 - 17:04 | 3037082 HedgeAccordingly
HedgeAccordingly's picture

I blame washignton - http://hedge.ly/TFvc4F

Wed, 12/05/2012 - 17:05 | 3037084 lizzy36
lizzy36's picture

Talk about bruised fruit.

Margin clarks going to have a ball first cycle tomorrow.

Wed, 12/05/2012 - 17:14 | 3037126 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Say hi to your lover boy Mark Carney for me.

Wed, 12/05/2012 - 18:36 | 3037435 GoinFawr
GoinFawr's picture

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

Wed, 12/05/2012 - 17:05 | 3037086 GNWT
GNWT's picture

Apple = Fashion Company

See LA Gear, circa 1992




Stay liquid my friends...

Wed, 12/05/2012 - 19:03 | 3037504 Spastica Rex
Spastica Rex's picture

Benetton, Swatch, Zebra Club, 1986

I know.

Wed, 12/05/2012 - 22:33 | 3038008 ebworthen
ebworthen's picture

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

Wed, 12/05/2012 - 17:06 | 3037090 Tsar Pointless
Tsar Pointless's picture

Dow tops 13,000.

All that will matter tonight.

Wed, 12/05/2012 - 17:06 | 3037093 dogbreath
dogbreath's picture


Wed, 12/05/2012 - 18:53 | 3037481 GoinFawr
GoinFawr's picture

fäkale Apfel-Gulasch

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