Apple crashes into bear market: $160B gone

[Old School]

http://www.msn.com/en-us/money/comp...lar160b-gone/ar-BBnI5oG?li=BBnbfcL&ocid=HPDHP

Apple (AAPL) diehards who keep saying the stock "will come back" are going into hibernation today.

Matt Krantz<time abp="322" data-always-show="true" datetime="2015-12-19T02:44:12.000Z">10 hrs ago

Shares of the gadget maker closed down another 2.8% Friday to $105.93 ? knocking the stock down 21% from its recent high of $134.54. The breathtaking decline not only puts Apple into a bear market - defined by a 20% drop ? but has obliterated a staggering $160 billion in shareholder wealth from the top.
Just to put that into perspective, Apple's $160 billion decline is larger than 477 companies in the Standard & Poor's 500 are worth. A drop this big is the financial equivalent of wiping out the market value of entire companies like Pepsico (PEP) at $146 billion, International Business Machines (IBM) at $133 billion or Nike (NKE) at $111 billion.

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