What's Trending: Apple slipping down the stock market
For the first time since 2011, Apple is not the most valuable company in the world. That title now belongs to oil giant Exxon. The reason has to do with Apple’s stock is falling faster than the apple fell off of Newton's tree – and its fall is what’s trending.
Apple's been bit hard. Despite posting a quarterly profit of $13.1 billion, Apple stock has lost a quarter of its value during the past 4 months. The List asked Spanky Moscowitz of Data Doctors if the falling Apple is more likely to break or bounce.
"Wall Street is based on two things: Greed and fear. The greed cycle has played out as Apple's stock was hitting $700 plus. And now the fear cycle is starting to show," said Moscowitz.
Mac-lovers equated Steve Jobs with innovation. Without him, Apple seems more like just another mega-corporation. And then there's Samsung and Google who want a piece of Apple's market. The competition has always been there, but in the past, Apple has stayed a step ahead of them.
"Apple hasn't lost their edge yet. They are still leading the pack, but the margin has gotten much smaller," Moskowitz said.
On Friday, the movie "Jobs" starring Ashton Kutcher debuted at Sundance. It hits theaters in April.
Will "Mac"-anistas rally around their company? We’ll have to see what becomes of the “big Apple.”
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