Apple’s Jaw Dropping Flop
Apple’s $37 plus, 6.43 percent sell off was surreal. The world’s largest and most profitable company giving up almost $40 billion of market value while the rest of the market basically yawned? That doesn’t happen often.
The Apple selling on big volume could have been used to finance a move into the financials. Bank of America was up over 5 percent and Citicorp tacked on over 6 percent.