CHART OF THE DAY: The Incredible Destruction Of Apple
Apple's stock fell to another new low point of its current crash, closing at $420.15. It's an incredible decline for the stock which was at $700 in September.
If you want a rational reason for the stock's decline, we have a few ideas: Investors are worried about the rise of Android, Apple's margins collapsing, the lack of a mega product in the works, and the post-Steve Jobs era.
Of course, all of those things were true last year for the most part when the stock ran to $700.
Instead of looking for rational reasons, you might just want to throw your hands in the air. Investing genius Jeff Gundlach says the crash in Apple is proof that markets aren't efficient, rather the result of herd mentality and idiosyncratic behaviors.
Whatever the case may be, Apple's market cap is now below Exxon, and it is no longer the most valuable company in the world.
