![]() Research company Baseline generated the numbers for this story. In all, $91 billion of the chip maker's worth evaporated on September 22, when it announced weak demand in Europe would cause third-quarter revenue to disappoint. A company's market cap is its stock price multiplied by the number of outstanding shares - its value on Wall Street, basically.Ī week earlier, Intel saw 2000's most-shocking market-cap meltdown in dollar terms. Half a company disappeared, or half its market capitalization anyway. That's the biggest one-day percentage drop on the S&P 500 this year. It saw more than half its value, 51.9 percent, carved off on September 29, when it warned its fourth-quarter profit would fall far short of analysts' projections. ![]() Most dramatically, and most recently, the hatchet fell on Apple Computer ( AAPL: Research, Estimates). (It warned again on earnings after the market closed Tuesday, and lost $34 billion).Ī stream of big-cap names has flowed over the same merciless drop. Lucent Technologies ( LU: Research, Estimates) set the tone in the first week of January when an earnings warning caused it to shed $48 billion, or 22 percent of its market capitalization, in a day. For typical investors, this has been a sideways year at best.īut it's also been the year of the Big Drop. Such conversations have been a feature of 2000, unfortunately - unless you're a short seller. NEW YORK (CNNfn) - "Did you hear what happened to Intel today?" The largest market-cap drops show the Grim Reaper came for big caps in 2000
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