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CNBC's "Fast Money"

MARKET VOLATILITY SHAKES APPLE STOCK TO CORE, LOSES DISTINCTION OF WORLD’S MOST VALUABLE COMPANY. 05/11/22

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.91.3K Ratings

🗓️ 11 May 2022

⏱️ 47 minutes

🧾️ Download transcript

Summary

Fast Money traders’ react to Apple losing the title of world’s most valuable company. Shares of the tech giant fell nearly 12% percent over the last week. How to trade $AAPL amid this sell-off Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Right now on fast two Dow components front and center apples selling off hard

0:05.4

down over 5% today, dragging down the major averages, meantime, Disney, Volatile

0:09.7

and after hours reporting better than expected growth for streaming a deep dive

0:13.2

on both stocks straight ahead plus buying in the boardroom. We'll tell you which

0:16.7

corporate insiders are scooping up their stock and what kind of message that

0:20.0

could send to the market. And later, Bitcoin Buzzkill shares the coin base

0:23.6

down more than 25% and news of a stable coin that lost its ability, the Bitcoin

0:29.5

ballers here to break it all down. I'm Melissa Lee and this is fast money

0:32.8

lasting as like market side in the hardest time square on the desk tonight.

0:36.4

Tim Seymour, Karen Feinerman, Steve Grasso in Brian Kelly. We begin with apples

0:40.6

deep decline to stock falling more than 5% today and quietly over the last

0:44.4

week. It's down nearly 12%. Apple's market cap has now dropped close to

0:49.0

$320 billion in a week. That is roughly one master card and two sales

0:54.0

forces. Throughout much of the sell off, Apple has been a pillar of

0:57.2

strength, not so much anymore. So what could that mean for the markets?

1:00.8

Brian Kelly. Well, it seems to me that you might have some more weakness here, right?

1:05.2

Apple has been this bell weather. Everybody has looked at it and said,

1:09.2

you know what? This thing is levitating. This is what everybody's in. This is also a

1:13.2

big retail name, so to speak, and actually in everybody's portfolio. It's

1:17.2

in even the Swiss National Bank's portfolio. They're one of the largest holders. So

1:20.9

this has been the big one. Breaking 150 was big when we saw it break 150.

1:26.3

You really saw the Nasdaq start to sell off and it just kind of cascaded from

...

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