This Never Happened With Apple, Since 2008: Apple’s shares have long been a must own for hedge funds and mutual funds. With Thursday’s closing bell, the curtain came down on the U.S. stock market for 2015. For the year, Apple stock holders experienced something that they haven’t since 2008, a down year. To put this in perspective, the last time Apple’s stock suffered a down year, the company was pushing the Apple iPhone 3G, and the BlackBerry Storm 9530 was supposed to be the iPhone’s big challenger.
This Never Happened With Apple, Since 2008
Apple closed out 2015 at $105.26, down 4.64% from the start of the year. That is a loss of $57 billion in market capitalization for the tech titan. The peak for the year was made in April as the Apple Watch release gave a temporary jolt to the stock, propelling it to $134.54. Thursday’s close was down 21.76% from that high.
Despite the decline for 2015, this will be known as the year in which Apple was added to the Dow Jones Industrial Average. The Dow is the most famous of Wall Street’s indices, and is comprised of 30 stocks that are supposed to represent a cross-section of American manufacturing. [Read more]