Apple’s market value has declined by more than $70 billion from the high it hit two and a half weeks ago when the iPhone 5 was released in stores. The company’s stock dropped to as low as $623.55 a share in early trading Tuesday, pushing the company’s market cap down to $585 billion. Apple shares hit $700 for the first time ever a few days after the iPhone 5 was announced and rose to an all-time intraday trading high of $705.07 on September 21, the day the phone went on sale, which gave the company a market cap of about $661 billion. The stock closed that day at $700.09 a share, for a market cap of about $656 billion.
Since then, the company’s stock has declined on fears about iPhone 5 supply constraints — most recently from reports of a strike at Foxconn, Apple’s Chinese manufacturing partner. The company’s market value fell below $600 billion on Monday for the first time in nearly two months.
In total, this means Apple lost about $76 billion in market value from the peak set on the day the iPhone 5 was released to Tuesday’s trading low. To put that in perspective, that’s more than the current combined market value of Facebook, LinkedIn and Dell.
As of publication, Apple’s stock was trading at around $628 a share, valuing the company at just under $590 billion.