There is a saying in one of the Borneo rainforests which goes like this, “no matter how high a squirrel jumps, it will still fall down to the earth eventually”, meaning there is no combating the law of gravity. Apple’s march to being the world’s first trillion dollar company has experienced quite a setback, seeing its stock decline by over 1% in early trading on Thursday, which means the company’s market cap is now below $500 billion – a milestone that Cupertino zipped past in late February earlier this year. Despite that, they are still the most valuable company in the world in terms of market cap, with over $100 billion ahead of Exxon Mobil.
In the past couple of months, Apple’s stock did drop by over $170 a share from its intraday trading high of $705, and this has led its market cap to fall by more than $150 billion from its peak of approximately $661 billion. There are several angles to look at the recent stock price decline, among them being lower-than-expected iPhone 5 sales – although Apple attributed that to supply issues instead of demand. Not too sure whether we should take them at their word, considering how they remain petulant in the face of the law when it comes to making a simple, manly apology to Samsung.
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