To The Moon

Apple Stock Slumps Toward Lowest Close in 18 Months, Worst Yearly Performance Since 2008

$Apple(AAPL)$  slumped 1.7% in afternoon trading, enough to pace the $DJIA(.DJI)$ s decliners as they flirted with their first sub-$130 close in 18 months. The stock was headed for a new closing low for the year, below the previous low of $130.06 on June 16, 2022, and the lowest close since June 15, 2021.

Apple's stock has tumbled 12.4% in December, putting it on track for the weakest monthly performance since it shed 12.8% in May 2019, and the first December drop since 2018. It has also slumped 27.0% in 2022, which would mark the worst yearly performance since it plunged 56.9% in 2008 during the financial crisis.

The stock's weakness this year compares with the 33.8% drop in the Nasdaq Composite and the 8.5% dip in the Dow.

Based on Apple's financial statement as of October 28, 2022, long-term debt is at $98.96 billion and current debt is at $21.11 billion, amounting to $120.07 billion in total debt. Adjusted for $23.65 billion in cash-equivalents, the company's net debt is at $96.42 billion.

@TigerStars  @Daily_Discussion