The $450 billion wipeout: Apple's value has fallen by more than Facebook's entire worth in three short months

Advertisement
The $450 billion wipeout: Apple's value has fallen by more than Facebook's entire worth in three short months

cook vs zuck, tim cook, mark zuckerberg

Getty Images

Facebook CEO Mark Zuckerberg and Tim Cook, the CEO of Apple.

Advertisement
  • Just three months ago, Apple was on a high as the most valuable company in the world.
  • But since October 2018, $450 billion has been wiped from its value.
  • That's more than the entire value of Facebook.

Apple's stock has been in freefall since since its 52-week high in October, and the unexpected sales warning from CEO Tim Cook has sped up the decline.

The iPhone maker's share price fell by 9.96% on Thursday following a shock readjustment of its revenue forecast.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Read more: Apple's brutal sales warning sparked a Wall Street debate on whether tech stocks will be dragged into a disastrous downturn

Just three short months ago, Apple was on a high as the most valuable company in the world.

Advertisement

But since Apple hit a peak of $232.07 a share on October 3, giving it a market cap of $1.16 trillion, it has dropped to $142.19, wiping $450 billion from its value. Its market cap stood at $710.97 billion on Thursday, according to Macrotrends. Bloomberg pegs Apple's current market cap at $674.74 billion.

To put that into context, that $450 billion loss is significantly more than the value of Facebook, which is currently worth $383.76 billion, according to Macrotrends. It's also more than the GDP of countries including Iran, Austria, and Norway.

This chart shows the three-month decline and says it all:

Apple market cap

Macrotrends

The drop in valuation means Apple has lost its position as third most valuable company in the world to Alphabet, the parent company of Google.

Advertisement

In pre-market trading, Apple was up 1.61% to $144.48 at the time of publication.

{{}}