Apple Sheds $470B in Market Cap, Biggest One-Day Loss Ever
AAPL sits 49% above its 52-week low of $201.5.
Summary
Apple shares are down 9% today, wiping out roughly $470 billion in market value—the largest single-day market cap loss on record for the company and the second-largest ever for a U.S. firm. The selloff follows a turbulent week of AI concerns, geopolitical tensions, and hawkish Fed signals, but today's move is amplified by a weak forecast and supply chain warnings from CEO Tim Cook. Meanwhile, Amazon's 15% surge on strong cloud results is offsetting Apple's drag on the Nasdaq, which is still up over 0.5%. The divergence highlights a rotation within mega-cap tech, with AI-exposed names under pressure while cloud and consumer discretionary stocks rally. This is the second major Apple decline in a month, following a 6% drop in late June, but today's loss is far larger and sets a new record. With component shortages worsening and AI spending soaring, the stock's path hinges on whether iPhone demand can offset rising costs.
At the time of this announcement, AAPL was trading at $300.81 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.4T. The 52-week trading range was $201.50 to $344.57. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.