A mere 39 days after the once-largest-market-cap company in the world came to market with its bond issues, those that saw 'value' in the 3.85% coupon are not having a great run. The 30Y issue is now down 14% from the break price (and down over 18% from high price to low price since issuance). What is perhaps most notable is that while AAPL's equity price has also struggled, it is only down 9% in that period. And don't blame it all on those pesky Fed-driven rates, AAPL's spread (credit risk) has risen from ~90bps to over 110bps in this time.
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Charts: Bloomberg