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AppleInsider - Apple closes above $2T the day after tech industry sell-off

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Apple closes above $2T the day after tech industry sell-off

<div style="margin: 5px 5% 10px 5%;"><img src="https://www.sickgaming.net/blog/wp-content/uploads/2020/09/apple-closes-above-2t-the-day-after-tech-industry-sell-off.jpg" width="1305" height="728" title="" alt="" /></div><div><div><img src="https://www.sickgaming.net/blog/wp-content/uploads/2020/09/apple-closes-above-2t-the-day-after-tech-industry-sell-off.jpg" class="ff-og-image-inserted"></div>
<p>Apple on Friday regained a market valuation above $2 trillion after briefly losing it Thursday in a large-scale tech industry stock sell-off. </p>
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<p>The AAPL share price closed at $120.96 at end of trading, up 0.066% on the day. Apple’s stock price hit a low of $111.17 in intra-day trading on Sept. 4, representing a 7.44% bleed since trading began.
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<p>Apple’s reclaiming of a $2 trillion valuation comes the day after it bled nearly $180 billion in market capitalization. On Thursday, Apple’s share price was down nearly 8% in intra-day trading amid a broad sell-off of tech stocks. It marked the worst day of trading for technology stocks since a coronavirus <a href="https://appleinsider.com/articles/20/03/16/aapl-hammered-bleeds-125-because-of-coronavirus-once-again">plunge</a> in March, in which Apple saw a 12.5% drop.
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<p>According to <em>MarketWatch</em>, Apple’s plunge was the <a href="https://www.marketwatch.com/articles/apple-lost-180-billion-in-market-value-51599168551">worst</a> one-day loss in value for any company ever. Tech stocks led the self-off, and all three major indices showed major losses across other segments.
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<p>The dip Thursday follows several months of steady growth for the Cupertino tech company and <a href="https://appleinsider.com/articles/20/07/30/apple-reports-597b-in-revenue-for-q3-amidst-ongoing-pandemic">several quarters</a> of better-than-expected earnings. Apple became the first U.S. company to <a href="https://appleinsider.com/articles/20/08/19/apple-becomes-first-us-company-to-hit-2-trillion-market-cap">hit</a> a $2 trillion valuation on Aug. 19, 2020. Apple’s share price is still up nearly 113% since a coronavirus-sparked low on March 23.
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<p>Apple’s current share price has been readjusted due to the recently completed <a href="https://appleinsider.com/articles/20/08/31/apple-4-for-1-stock-split-process-completes">four-for-one stock split</a> on Aug. 31. The split gave each shareholder three additional shares for every one held, each at 25% of their original value.</p>
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https://www.sickgaming.net/blog/2020/09/...-sell-off/
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