Snap up some cheap AAPL stock while it’s tanking

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AAPL shares took a nosedive on Tuesday
Apple’s stock price went down quite a bit.Perhaps now’s the time to buy
Photo: Cult of Mac

Apple shares spent much of Tuesday down 4% in value. The AAPL selloff was part part of a general drop in tech stocks amidst fears of a rise in interest rates.

At one point during the day, the value of each AAPL stock had dropped about $5.30. That’s a decrease of roughly $88 billion in Apple’s $2.1 trillion market capitalization.

Update: Apple shares finished the day down 3.54%.

Apple still the biggest tech giant, but it’s Big Tech’s worst performer of 2021 so far

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Apple.logo.paris.store
The stock market is kinda weird.
Photo: Josh Davidson for Cult of Mac

Apple’s market cap has climbed more than $13 billion this year alone, equal to the company’s entire net worth in mid-2004. But that’s still enough to make it an underperformer next to its tech titan peers.

In a Wednesday report, the Wall Street Journal notes that Apple has risen 1.3% in 2021 so far. That’s compared to an average of 16% for Microsoft, Amazon, Facebook, and Google parent company Alphabet. It’s also way less than the 81% Apple soared in 2020.

Today in Apple history: Apple market cap breezes by Walmart

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Apple could be a $2 trillion company by end of 2021
At this point, a $200 billion market cap seems almost quaint for Apple.
Photo illustration: Ste Smith/Cult of Mac

March 12: Today in Apple history: Apple overtakes Walmart in value March 12, 2010: Apple passes Walmart and investment firm Berkshire Hathaway in value to take third place in market capitalization among publicly listed U.S. companies.

Apple’s valuation roars past $200 billion as a result of intense excitement over the first-generation iPad. Things look good for the company as it guns for powerhouses ExxonMobil and Microsoft.

How to attend Apple’s 2021 virtual shareholders meeting

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The Apple 2021 Annual Meeting of Shareholders will be held February 23.
The Apple 2021 Annual Meeting of Shareholders is this week. Here’s how you can take part.
Graphic: Cult of Mac

Apple’s annual shareholders meeting won’t take place on the Apple Park campus this year as it ordinarily would. With the COVID-19 pandemic dragging on, it’ll be a virtual-only event in 2021. This is likely to increase participation in the February 23 meeting. And if you own AAPL shares, you can attend.

Here’s what you need to do.

Warren Buffett’s firm unloads 57 million Apple shares

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Buffett
Warren Buffett is one of Apple's biggest cheerleaders.
Photo: CNBC

Berkshire Hathaway — the investment firm belonging to Warren Buffett, one of Apple’s biggest cheerleaders in recent years — reduced its stake in the Cupertino tech giant last quarter.

According to a regulatory filing made this week, in Q4 2020, Berkshire Hathaway cut 6% of its Apple shares. By contrast it kept its Amazon shares steady, while growing its stake in T-Mobile by a massive 117%.

How much Steve Jobs’ Disney and Apple shares would be worth today

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How much would Steve Jobs be worth today?
Things would have been even better had Steve Jobs held onto his original Apple shares.
Photo: Jorge Palma Pastor/Flickr CC

One of the things that always surprised me was how, compared to some of his Silicon Valley peers, Steve Jobs’ net worth during his life paled in comparison to some of his contemporaries.

When Jobs died in late 2011, his net worth was reported as being $10.2 billion. That’s an enormous amount of money, but it was a drop in the ocean next to Bill Gates’ $56 billion that year, and less than Google’s Sergey Brin and Larry Page’s $19.8 billion apiece, Michael Dell’s $14.6 billion, and Facebook’s Mark Zuckerberg’s $13.5 billion.

Had Jobs had the same share arrangement today, however, it would be a very different story.

Apple shares skyrocket 45,697% over past 20 years

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Just imagine if you'd invested a handful of cash in Apple in 1993.
Just imagine if you'd invested a handful of cash in Apple in 1993.
Photo: lucas Favre/Unsplash CC

Apple has come a long way this century alone. In 2001, Apple had yet to release the iPod, iTunes, the iPhone, iPad or Apple Watch. While the turnaround under Steve Jobs was underway, it was still in its earliest stages.

What has Apple’s ascension in the years since done to AAPL’s share price? On January 28, 2001, Apple — adjusted for splits and dividends — was trading at 30 cents a share. On January 28, 2021, Apple closed at $137.09. That’s an astonishing 45,697.7% increase!

Today in Apple history: Apple IPO mints instant millionaires

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Apple is worth more than the entire US energy sector combined
December 12, 1980, was an incredibly important day for Apple.
Photo: Ste Smith/Cult of Mac/401Calculator

December 12: Today in Apple history: Apple goes public at $22 per share, minting instant millionaires December 12, 1980: Apple goes public, floating 4.6 million shares on the stock market at $22 per share.

In the biggest tech IPO of its day, more than 40 out of 1,000 Apple employees become instant millionaires. As Apple’s biggest shareholder, 25-year-old Steve Jobs ends the day with a net worth of $217 million. However, the big payday triggers internal tensions as it highlights Cupertino’s class divide.

Fortunes missed: The Apple investors who sold their shares on IPO day

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Money on Unsplash
Apple shares have increased in value 1,000x times since December 1980.
Photo: Pepi Stojanovski/Unsplash

Sometimes, when Apple passes a major financial milestone, I’ll have a pang of regret at not having invested all the money I could lay my hands on on Apple back in the mid-1990s.

But that’s far from the worst missed opportunity involving Apple investment. A new article for Fast Company tells the story of seven early investors who sold their AAPL holdings on the day of the company’s IPO in December 1980.