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Apple goes to crapple in stock plunge kerfaffle: $113bn wiped off in days

Cook & Co feeling the heat as investors fret

4 arrows signs in arrow on wooden wall

Peak Apple Apple is in the midst of a stock drop that has caused the Cupertino giant to lose as much as $113bn in market cap.

Since posting its last quarterly numbers, Apple (Nasdaq:AAPL) has seen its stock price drop from $125.22 per share to a low point of $112.10.

Wary that Apple's meteoric growth from recent years is slowing down as the smartphone, tablet, and PC markets continue to cool, investors have become worried that Apple may not be the financial giant it was in the first half of the decade.

That drop has led to an estimated $90bn in lost market cap for Apple, according to The Wall Street Journal. USA Today reckons the drop has shredded $113bn from Apple's cap.

Despite continuing to post record quarterly numbers, iPhone sales in particular fell short of analyst projections, leading some investors to worry that a decline in revenues is looming for Apple on the horizon.

"Apple is caught up in the vortex of a really ugly chart," noted stock analyst Jim Cramer.

"It is both over-owned, meaning a lot of funds have it, and overloved, meaning a lot of analysts are recommending it."

Even with the drop, however, Apple is far from going into crisis mode. The consumer electronics giant may have already begun a rebound as stock prices were slightly up on Wednesday.

"Apple looks to be a victim of lofty expectations," wrote Zacks Equity Research.

"Of course, some cracks have lately been spotted on its rock-solid fundamentals, but its basics are still strong and analysts still value it."

Apple is not the only big-name technology company to take a beating in the stock market as of late. Business review site Yelp has been hit with a 30 per cent dive in its stock price, while the continuing losses at Twitter have that company's stocks down to nearly pre-IPO levels. ®

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