Apple’s stock price dropped by $180 billion in a single day on September 3, 2020, the biggest loss by a single company ever.
The coronavirus pandemic has affected the world in more ways than we can count at this point. Many people have not only suffered from it or maybe even lost family members to the virus, but some will have also suffered greatly financially, losing their jobs or maybe even losing their business. Not all have suffered on that front, though.
The world’s richest appear to be doing better than ever. The net worth of people such as Mark Zuckerberg and Elon Musk has skyrocketed. Jeff Bezos, the richest person in the world, has watched his net worth skyrocket. Bezos is the founder of Amazon, which people around the world have been leaning on throughout the pandemic as a way to continue shopping during lockdown.
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It hasn’t been all sunshine and rainbows, though. On Thursday, September 3, 2020, Apple’s stock price plummeted. It dropped by $180 billion in the space of one day and no, that is not a typo. It’s the biggest one-day drop by a single company in history. It beats an unwanted record that stood for almost 12 years. It was held by Volkswagen whose price dropped 44%, or $153 billion in one day. In all fairness, its price had risen 82% the day before.
The scariest part of all this is in the grand scheme of things, it probably wasn’t that big a deal to Apple. Don’t get us wrong, the company’s worth dropping that much on any given day isn’t going to make anyone connected to Apple happy. However, it recently became the first company ever to be worth more than $2 trillion. $180 billion is just 9% of that. So probably more of an annoyance to Apple than a catastrophe.
Other signs that Apple heads won’t be losing much sleep over the loss can be found when looking back on the company’s year so far. Even with the $180 billion loss, Apple’s stock price is still up 65% versus the start of 2020, and 127% up versus the same time last year. Like we said, not a drop in the ocean per se, but also not as devastating as it appears on the surface.
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