$Apple(AAPL)$ A musing I thought I would share. Perhaps for many this is common sense. The owners of AAPL collectively think in terms that they have 3.4 trillion dollars in AAPL stock. Yet, is there really 3.4 trillion out there to buy all that stock to justify this total in their spreadsheets as part of their net worth? Can shareholders all believe they can receive $3.4 trillion for their shares?

To grasp scale of $3.4 trillion, in 2020, for the USA, all Fiat currency totaled $2T, commercial bank deposits totaled $3T, and Central bank deposits totaled $15.5T. Also, for perspective on this point, $NVIDIA Corp(NVDA)$ lost $300 billion in market cap on Tuesday. However, the number of shares exchanged on that day (474 million) X closing price ($108) amounts to $51 billion and was less than the collective $300 billion market cap reduction.

Therefore, it is theoretically possible for wild swings in market cap up or down not to require so much money. I guess my point is that one should not be wowed by market cap. Further, large market cap or small, until one sells their shares, each investor has to be wary that the value they think they possess in terms of cash value is really only (on paper) vapor.