October 20, 2020

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Sour aftertaste: Apple loses 500 billion in three weeks …

Sour aftertaste: Apple loses 500 billion in three weeks ...

Apple CEO Tim Cook.

Photo: AFP

It’s been an odd week for Apple investors. After an impressive surge in recent months, the smartphone maker’s share price has plummeted to well below $ 2,000 billion. In eighteen days the company has lost a market value of $ 500 billion.

In August there didn’t seem to be a problem. In the middle of last month, the American technology company reached a market value of $ 2 trillion (2000 billion) for the first time in its history. After the stock split at the end of August, it even set a record of $ 134 a day later. According to investors, the company is suddenly worth 500 billion less.

There’s no clear reason for this decline, but the corona pandemic postponement of the new iPhone likely has a big finger in the pie here.