Apple has quietly come down 22% from its peak by giving $ 500 billion in market cap.

Well, it was fasting.

In order to shed more than half a trillion in market capitalization, Apple had just 12 trading sessions to unload more than 20% of all its 20 highs.

The tech giant has lost a record 22.5% sept $ 2 to $ 137.98 high on its intraday, causing a loss of nearly $ 536 billion in market value. Apple’s steep and fierce decline followed a massive run-up ahead of its 4-for-1 stock split in August, while steep losses also came in the form of Apple’s recent product program – its first in 2020 – until publicity was not.

The Tim Cook-led giant announced new hardware and some new software on Tuesday, including the Apple Watch Series 6, a new iPad Air, a new fitness service, and a new service bundle called Apple One. However, Apple did not announce any new iPhones. Also, the biggest thing missing from the bundle of Apple One that will make it more attractive: a hardware tie-in to the iPhone.

Bernstein senior research analyst Tony Saconaghy called the incident “relatively weak”.

“We believe it can be difficult to move users from competing music, video or gaming services to where they are often stuck,” Sacanghi said in a note. “We believe Apple should more creatively look at its hardware + services in a unified subscription bundle.”

Apple’s weakness in the past few weeks also came amid widespread sell-offs in the tech sector as investors pulled out of market-leading high-flyers. Tech-Heavy Nasdaq Composite has fallen in the reform sector, exceeding its record high of 10%. Some investors believe that the sell-off at Tech Darling comes from scaffolding over price concerns that have risen very quickly.

Prior to the recent sell-off, Apple shares rose 21.4% in August, as the announcement of the stock split led to a knee jerk rally. Several steps were taken on Wall Street because such corporate action has no effect on the company’s core principles or intrinsic value of existing ownership.

Nevertheless, some analysts say that Apple has rebounded from here, given the status of its megacap and the history of quality products.

Jean Munster of Lup Venture said the key takeaway for the Apple event is how the company is “excellently impacting its consumers.”

On CNBC’s “Fast Money”, Munster said on Tuesday, “They can overcome it and the reason is that they have some of the best products in the world.” “They have great products and see a trade-off, price premium relative to consumer price.”

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