Apple’s $520B Loss, and FedEx Delivers Big Returns

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 18 September 2020

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of the biggest company in the world have fallen 22% from their highs hit on September 2nd. That’s shaved more than $520b from Apple’s market cap in just two weeks! Plus, is FedEx stock primed to double? We lay out the case for a big surge in the stock and debate the possibilities.

Transcript

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0:00.0	And it does start right now.
0:03.7	Hi everybody, I am Brian Sullivan in for Melissa Lee.
0:06.0	Happy Friday, this is Fast Money.
0:07.8	Your Trader lineup on a Fast Friday, Steve Grasso, Bono and Eisen, Jeff Mills, and Nancy Puyall, co-seo of Essex Investments, welcome
0:17.1	Nancy.
0:18.1	All right, tonight on Fast.
0:19.1	Sign, sealed, delivered, and a big bold call on FedEx.
0:24.0	One megabag says that stock may be set to double.
0:27.0	We're going to find out why and if your traders agree,
0:30.0	plus Tiktok goes the clock.
0:32.0	We're all over late-breaking developments on
0:34.2	Tik-Toc and we chat negotiations coming down to the wire. We're gonna tell you
0:38.3	where things stand at this hour and later on where's the beef? We'll tell you what said shares of Beyond Meat into the grinder today. A big call of that stock as well.
0:48.3	All right welcome everybody and good to see you. We're going to begin though with the world's biggest
0:52.2	company and a little bit of a world of pain lately that is Apple
0:55.4	Following another 3% today it is now down 22% from its record high hit earlier this month
1:01.1	That my friends a market cap loss of only you know five hundred
1:06.0	billion dollars put that into perspective that is equivalent to an entire visa a
1:11.1	J&J maybe a Walmart or even a Proctor and Gamble.
1:15.0	And Apple is not alone.
1:16.5	Shares of Amazon, Facebook, and Alphabet also dropping this week.
1:19.9	So is this just a tech timeout, Grasso or do you see a rollover and maybe some more
	...

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