How tech giant Apple lost $180,000,000,000 in one single day
There was a day where Apple lost a whopping $180 billion within 24 hours.
And it didn’t even happen that long ago - the tech giant lost the huge sum back in 2020.
It was the most amount of money that any firm has lost in a single day, according to Barron’s.
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While other companies would have considered the loss catastrophic, Apple’s worth is in the trillions so it wasn’t quite so disastrous.
And despite the huge loss, its value was still well above $2 trillion.
The stock market can be fickle and on September 3, 2020, Apple’s stocks slid by 8%, which translated to a value loss of $180 billion.
But that didn’t stop the firm from dominating the tech market.
Despite the setback, Apple stocks were still up 65% at market close from January 2020 and up a huge 127% from that time last year.
So, it was definitely still a safe bet to invest in Apple.
In fact, one particularly savvy tech user worked out just how rich you'd be if, instead of buying an iPhone whenever a new one was released, you just spent the money on Apple stock instead.
Writing on X, formerly Twitter, Sumit Behal shared that he had worked out how much your Apple stock would be worth if you'd been buying that instead of an iPhone on the day of each Apple event.
And spoiler alert, it’s an awful lot of money.
Behal calculated that to buy each model of iPhone at launch, it would set you back by about $17,000, but if you put that money into Apple stock then you would be sitting on a stock portfolio worth a massive $367,000,000.
The Apple stock price has increased dramatically ever since the launch of the first iPhone. Before Steve Jobs released the phone in 2007 you could buy stock in Apple for just over $3, but now you'd have to pay more than $170.
However, critics have also argued that if everyone just bought Apple stock instead of an iPhone each time one was released, then the stock would not be anywhere near as high as it has ended up today.
This is because nobody would be buying iPhones, thus making the whole idea useless.
Then again, if people were spending the same amount on Apple stock as they were on iPhones then the price would probably be pretty darn high.