Curse of the Milestone Hits Apple in Mirror of Past Routs: Chart
(Bloomberg) -- Apple Inc.’s milestone hangover has arrived in the form of a bear market, from its October high and a 15 percent slump from when it became the first U.S.-based company with a $1 trillion valuation in August. Previous firms which made it first to big market-cap milestones all slumped in the year following their breakthrough. It’s worth noting that International Business Machines Corp., Microsoft Corp. and PetroChina Co. all reached their milestones in the months leading up to three major market crashes: Black Monday, the dot-com bubble and the 2008 financial crisis, respectively.
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