“$433 Billion Gone! [Apple] Loses More Value Than Tesla”
April 25, 2024
“Tesla’s loss of $328.3 billion this year in stock value certainly hurts. But it’s amazingly only the second-largest market value loss in the S&P 500.
The dubious distinction of shredding the most value this year goes to Apple (AAPL). The Johnny-come-lately to AI’s market value is down $433.5 billion this year, says an Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge.
To be sure, Apple’s stock’s 14% drop this year is smaller than Tesla’s nearly 42% tumble. But given the sheer size of Apple, at $2.6 trillion, the loss in dollar terms is the largest in the S&P 500 by far…”