The great rotation in the technology sector continues.
Apple’s fall from grace isn’t directly related to Google’s new-found darling status, but the trend is a significant turnabout.
Once the most valuable company on earth, Apple’s stock has fallen 42%, dropping from an all-time trading high of $705 in September to a new 52-week low of $419 on Monday.
The slide pushed Apple’s market capitalization below $400 billion, although it clawed back above that level on Tuesday.
Even with that bounce, Apple has ceded its title as the world most valuable company to ExxonMobil (XOM), which has a market cap of nearly $403 billion at its current share price.
And so far this year, Apple has been among the 10 worst performing stocks in the S&P 500, alongside the likes…
View original post 167 more words