Apple's tanking stock doesn't just mean a lot of lost money for Apple employees and tech traders, but the rest of us, too. It is very likely that whatever you have in your your 401(k), the run-up of Apple shares over the last few years has been powering your gains. So, with stock down more than 10 percent because of yesterday's "record breaking" earnings report, a lot of retirement funds and financial cushions are taking a hit, too. And, as the bubble continues to deflate, which investors expect will happen, so too will your retirement savings.
More than 5,000 mutual funds, closed-end funds and exchange-traded funds have a stake in Apple, with Fidelity Contrafund, Vanguard Total Stock Market Index and Power Shares QQQ as some of the biggest holders. "If you don’t own Apple outright, your 401(k) probably does," explains Nightly Business Report's Diane Easterbrook. That Fidelity fund, for example, is a popular one for retirement plans. And mutual funds aren't the only big holders. Calpers, the California state retirement fund, for example, held 2.7 million shares, according to June data, reported USA Today. Apple is "by far" the biggest stock held by individual traders, too, according to CNBC's Matt Krantz.