Offbeat The first company to reach $1 trillion in market value got crushed

22:31  02 august  2018
22:31  02 august  2018 Source:   cnbc.com

Facebook's $120 billion stock rout is biggest market history

  Facebook's $120 billion stock rout is biggest market history Facebook was on track Thursday to post the largest one-day market cap loss by any company in U.S. stock-market history after releasing a disastrous quarterly report. Through midday Eastern Time, the social media giant's market capitalization had plummeted by about $120 billion to about $508 billion as its stock price fell by more than 19 percent. At Wednesday's close, Facebook's market cap had totaled nearly $630 billion, according to FactSet.No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day, but two came close.© Provided by CNBCOn Sept. 22, 2000, Intel shed $90.

Before Apple hit $ 1 trillion in market value , PetroChina had reached the milestone more than a decade ago. Apple hit a high of 7.05 a share on Thursday, briefly pushing its market cap to $ 1 trillion and making it the first U.S. publicly traded company to do reach the mark.

APPLE COULD GET TO $ 1 TRILLION in market value over the next year because of its changing investor appeal. To reach 0 a share over that same period, or $ 1 trillion in market valuation, Apple’s forward price/earnings ratio must rise What Will Be America’s First $ 1 Trillion Company ?

Before Apple hit $1 trillion in market value Thursday, there was Chinese oil giant PetroChina, which reached the milestone more than a decade ago. It did not fare too well after that.

PetroChina's market cap hit $1 trillion in 2007 following a successful debut on the Shanghai Stock Exchange on Nov. 5, 2007. PetroChina's Shanghai-listed shares nearly tripled at the open that day, with its Hong Kong-listed shares following them higher. (It had debuted on the Hong Kong exchange years earlier.)

The rise gave the company a market cap of $1.1 trillion in both the Shanghai and Hong Kong exchanges.

According to Reuters, PetroChina's opening price in Shanghai valued the company at 60 times analysts' forecasts for its 2007 earnings per share, above the global average of 18 times for oil firms at the time.

Apple stock soars as it races to a $1 trillion market cap

  Apple stock soars as it races to a $1 trillion market cap <p>Apple stock jumped Wednesday after a strong third-quarter report, trading more than 5 percent up and inching the stock toward a $1 trillion market value.</p>Shares hit the $200 mark during midmorning trading after opening at $199.13. Shareholders had previously been looking for a stock price of $203.45 to make Apple the first trillion-dollar company — though the company is expected to announce an adjusted outstanding share count later Wednesday that is likely to move the threshold.

Apple has the best shot to be the world's first trillion -dollar company . Requires just a 17% rise in market value from 0bn. It looks as if they have overpriced the iPhone X. You’ve got to look at Google, Microsoft and Amazon. I would say it’s most likely to be Google.”

Apple is racing to become the first publicly traded stock to attain a market value of $ 1 trillion . And that exposure could soon get bigger as the company approaches the $ 1 trillion dollar market cap.

It was all downhill from there, however. PetroChina's market value plummeted to less than $260 billion by the end of 2008, representing the largest destruction of shareholder wealth in world history, according to Bloomberg.

Blame the financial crisis and a collapse in oil prices. When PetroChina made its debut in 2007 brent crude prices were at one point, above $140 a barrel. Today they are about half that.

a close up of a map © Provided by CNBC

PetroChina has not fared too well since the end of 2008, either. The company's Hong Kong-listed stock is down more than 20 percent since the start of 2009.

Apple hit a high of $207.05 a share on Thursday, briefly pushing its market cap to $1 trillion and making it the first U.S. publicly traded company to do reach the mark.

China Dethroned by Japan as World's Second-Biggest Stock Market .
China just lost its ranking as the world’s number two stock market. After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg. That compares with $6.17 trillion in Japan. The U.S. has the world’s largest stock market at just over $31 trillion.China’s stock market overtook Japan’s in late 2014, then soared to an all-time high of more than $10 trillion in June 2015. Chinese equities and the nation’s currency have taken a beating this year amid a trade spat with the U.S., a government-led campaign to cut debt and a slowing economy.

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