There has been a lot of attention given to Apple’s recent slide as the stock swiftly fell 13.5% off its all-time highs. The reality is this sort of price action is something that Apple shareholders have grown very accustomed to over the last few years. In fact, over the last twenty quarters (arbitrary, I know), Apple has been in a ten percent drawdown 38% of the time.
Despite being nearly cut in half in 2013, and other bumps along the way, Apple has gained 200% over this time. Investors have been handsomely rewarded for the short-term discomfort. Whether or not this recent slide turns out to be a mountain or a mole hill is anybody’s guess. The bottom line is stocks go up and down; this is par for the course.