It’s easy to forget just what a crazily big and successful company Apple actually is. Even a slight dip or swell in the company’s share price equates to tens of billions of dollars in real terms.
Case in point: As AAPL recovered slightly from the battering of coronavirus over the past two trading days, its market cap increased by $180 billion. As Above Avalon analyst Neil Cybart helpfully points out, that’s the equivalent of the entirety of Netflix. Or Nike and Spotify put together.
Like many companies, the disruption of coronavirus hit Apple hard. Although it initially shrugged off the disruption of the outbreak, AAPL last week declined more than 20% from its record record high. Although Apple remained a $1 trillion company, that decline wiped billions off its share price.
Fortunately, the company had a much better trading day Monday. Its 9.3% price rise was the stock’s largest one-day move in more than 11 years. At the start of the day, AAPL was trading at $281.28. Despite a couple of brief fluctuations throughout the day, by close of play it was trading at $298.84. Overall, Apple’s current market cap stands at $1.307 trillion. To put that into context, it’s in excess of $1 trillion more than Apple was trading at 10 years ago in 2010, the last full year Steve Jobs was CEO.
As per Neil Cybart’s comparison, Netflix has a market cap of $167.2 billion. Nike, meanwhile, has a market cap of $144.3 billion, and Spotify’s is $25.6 billion.
Kind of makes you wish you’d invested pretty much everything you own in AAPL shares, right?