Dona Ferentes
A little bit OC⚡DC
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Forget the crypto crash, the most worrying signal from financial markets came from the stock widely considered among the safest in the world.
Last week, shares in Apple fell almost 5 per cent, taking its year-to-date losses to 19.2 per cent. The slump – which would have been much worse were it not for Wall Street’s dead-cat bounce on Friday night, which helped Apple rise more than 3 per cent – means the tech giant’s stock is now underperforming the S&P 500 for the year.
And with its shares trading at $US147, Apple has a market value of $US2.4 trillion ($3.5 trillion) and is one of the most widely held stocks in the world, accounting for 7 per cent of the S&P 500 and more than 11 per cent of the Nasdaq 100.
Last week, shares in Apple fell almost 5 per cent, taking its year-to-date losses to 19.2 per cent. The slump – which would have been much worse were it not for Wall Street’s dead-cat bounce on Friday night, which helped Apple rise more than 3 per cent – means the tech giant’s stock is now underperforming the S&P 500 for the year.
And with its shares trading at $US147, Apple has a market value of $US2.4 trillion ($3.5 trillion) and is one of the most widely held stocks in the world, accounting for 7 per cent of the S&P 500 and more than 11 per cent of the Nasdaq 100.