Apple has lost $286 billion in market cap since its September high

Apple shares bounced back Thursday, but losses since its record highs remain sharp.

The stock has fallen 9% since that September peak, shedding roughly $229 billion in market cap. That’s equivalent to the market cap of 94% of the S&P 500 companies. Most recently, the shares dropped on reports it would cut iPhone production in response to a shortage of chips.

Nancy Tengler, chief investment officer at Laffer Tengler Investments, has been a long-term holder of the name.

We are primarily funded by readers. Please subscribe and donate to support us!

“We became shareholders in 2013 when the yield on the stock rose above 3% which was also well above the yield on the 10-year, and we did that because we liked the services model and we thought that was being undervalued by the market,” Tengler told CNBC’s “Trading Nation” on Wednesday.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.