Mutual-fund investors arenât supposed to have to pay attention to the fate of any particular stock. But like so many things with technology giant Apple Inc., the regular rules donât seem to apply.
While Appleâs stock has been hit hard in recent months â losing more than third of its value since September, including a 12% drop since missing earnings estimates on Wednesday â the Cupertino, Calif.-based company is still the most valuable name on the stock market. That distinction means it looms unusually large in millions of Americansâ investment portfolios, even if theyâve never glanced at one of its quarterly earnings reports. âWeâve never seen another company have as big an impactâ on overall market returns, says Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
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