Apple Inc lost more than 10% of it's market value in a single trading session after the sales and profit numbers for the 4th quarter of FY-12 couldn't match street expectations.
Losing 10% on a result day is normal for stocks but a 10% loss on the stock with a market value of around $500 billion is something that happens in years. Apple lost almost $45 billion of market value on 24th Jan 2013 which is more than the GDP of Luxemberg (2011).
The loss in market value of Apple Inc and Luxemberg's GDP are compared here to understand the magnitude of loss. As of 2011, according to the IMF, Luxembourg was the second richest country in the world, with a per capita GDP on a purchasing-power parity (PPP) basis of $80,119 (Source: Luxemberbourg GDP per Capita). The second richest country in the world earned $41.4 billion in GDP in 2011 while Apple lost more than $45 billion in single day.
At the peak price of $700 USD Apple Inc was worth more than $650 billion dollar which was equivalent to the GDP of Mauritius, Albania, Afganistan, Jordan, Nepal, Luxembourg, Costa Rica, Kenya, Ghana, Oman, Bulgaria, Srilanka put together.
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