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An Apple logo hangs above the entrance to the Apple store on 5th Avenue in New York City.
Reuters/Mike Segar
Moving up.

Apple lost $100 billion in value in just two weeks

Since reporting earnings two weeks ago, Apple has lost over $100 billion in market capitalization.

Today, Bank of America laid out why some investors have been eager to dump Apple stock, which it downgraded (to neutral!). As Bloomberg reports:

The firm listed six key reasons it expects pressure on shares in the short term: 1) iPhone deceleration, 2) a slowdown in China marketshare gains 3) a deceleration in gross dollar profit growth, which is correlated to stock price, 4) a decline in the magnitude of earnings beats, 5) only modest improvement to the iPhone coming, 6) low likelihood of more capital return plans.

The loss in market cap is stunning. What’s equally stunning is that, even after shedding that much, it is still by far the biggest company in the world by that measure. Overall, the tech giant’s shares are down more than 11% since its disappointing results came out.

That Apple could shed so much market value so quickly speaks to its massive valuation and the lofty expectations that come with it.

Of course, the drop may present a tempting buying opportunity for many. For example, Piper Jaffray headlined a recent note “Despite noise, critical themes intact,” and RBC thinks the recent slide creates an “attractive entry point for investors.” So it appears the sky isn’t falling, even if the stock is.

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