Apple Drops 8% After Weak Revenue Guidance, Erasing $390B in Market Cap
Apple shares slid 8% as weaker-than-expected revenue guidance sparked a massive sell-off, wiping out $390 billion in market value within 60 minutes.
AAPL
Apple Inc. shares tumbled sharply after the company issued revenue guidance that fell short of analysts’ estimates. The stock extended losses to 8% in the immediate aftermath of the announcement.
The decline erased approximately $390 billion from Apple’s market capitalization in a single one-hour window. The massive move highlights investor sensitivity to any signs of slowing growth at the world’s most valuable company.
Source: The Kobeissi Letter