Tim Cook sad unhappyApple CEO Tim CookChip Somodevilla/Getty Images

  • Apple stock is on pace to have its worst month since 2008, dropping 21% and wiping out over $200 billion in value. 
  • In fact, it lost its crown as the most valuable U.S. company to Microsoft this week.
  • Here’s why investors have been so negative on Apple lately. 

Apple stock is having a terrible month.

Although it’s still up just under 3% on the year, it’s been deeply slumping since November 1, dropping 21% during this month, wiping out over $200 billion in value. That was when Apple said that it would no longer reveal how many iPhones it sells in a given quarter, leading analysts to speculate that unit sales were going to start trending downwards. 

That’s been a big contributor to the rout. In fact, Apple has now lost its crown as the most valuable U.S. company — to Microsoft! The company that was once the first $1 trillion publicly traded company is now not even the most valuable company.

When markets opened on Wednesday morning, Apple’s market cap was at $833 billion. Microsoft’s was slightly higher at $838 billion, according to Bloomberg data. 

Ultimately, it’s all shaping up to be Apple’s worst month since 2008, during the financial crisis. 

There are a lot of reasons why Apple is in a slump. Let’s break them down: