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Apple’s Market Cap Plunge Must Be Seen in Context
The iPhone maker’s 10 percent drop in value is only the ninth-largest since 2000
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Apple Inc.’s stock plunge on Thursday -- its biggest rout since January 2013 -- wiped almost 10 percent -- or $74.6 billion -- from its market capitalization. In the process, the iPhone maker fell to the fourth-biggest U.S. company with a valuation of $674.8 billion, trailing Microsoft Corp., Amazon.com Inc. and Google parent Alphabet Inc. The good news: Despite the pain, it’s only Apple’s ninth biggest one-day drop in market value since 2000.