Apple 2.0

Covering the business that Steve Jobs built

The Apple slingshot, revisited

August 19, 2013: 12:14 PM ET

Between Jan 11 and August 19, Apple lost and regained $120 billion in market value.

Screen Shot 2013-08-19 at 7.38.04 PMFORTUNE -- Is it time to visit, once again, our favorite Jason Schwarz's quote?

"If you can keep a good stock down then you are able to load up for the ride back up. It's like a slingshot -- the harder you pull, the more propulsion you generate."  -- Apple: Seven reasons shorts love it

Perhaps not. We've been wrong before. See our slingshot post from Dec. 6, 2012, when the stock plummeted $37.06 (6.4%) -- its worst one-day drop in four years -- and bounded right back before the close of trading.

What we couldn't know eight months ago was that Apple's share price would fall all the way to $385.10 before it began a recovery that was -- as the chart above shows -- anything but steady.

See also: Apple's bungee jumping June quarter: Who bought, who sold.

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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