Apple Has Lost More Money Than These Countries Make
What good is an enormous number without any context?
Since September 19, 2012, Apple (NASDAQ:AAPL) has lost $290 billion in market cap. Between then and April 18, 2013, the stock is down just over 44 percent, from $705.07 to $392.05 per share. During that time, the company ceded the title of world’s largest publicly-traded company back to Exxon Mobil (NYSE:XOM) — a market cap of $390.6 billion for Exxon versus $369.0 billion for Apple, as of April 19.
Apple’s loss was greater than the current market cap of every Dow Jones Industrial component except Exxon.
All told, it’s pretty sad stuff. The fall has hurt a lot of investors and catalyzed a vehement debate over the company’s future and its role in the ever-changing technology industry. But that conversation isn’t the concern of this article. Here, we’re going to take a look at the staggering size of the loss itself.
Here are five high-income countries that had 2011 gross domestic product worth less than the size of Apple’s loss…
1) Ireland: Ireland ranks 44th in nominal GDP. The nation supports a services- and industry-based economy that produced a GDP of $217.3 billion in 2011.
2) Portugal: Portugal ranks 42nd in nominal GDP. The nation supports a services- and industry-based economy that produced a GDP of $237.4 billion in 2011.
3) Singapore: With a labor force of only about 3.2 million people, Singapore supported an economy of $239.7 billion in 2011.
4) Israel: America’s ally in the Middle East has a labor force of about the same size as Singapore, and supported an economy of $242.9 billion in 2011.
5) Finland: The home of Nokia (NYSE:NOK) supported an economy of $263.0 billion in 2011.
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