Apple Inc. (NASDAQ:AAPL) has lost yet another first place crown. Earlier this month, Apple was replaced by Berkshire Hathaway Inc (NYSE:BRK.A) (NYSE:BRK.B) as the most respected company, and today CNBC reports that the company’s stock is no longer the most-looked up one on its website. Bank of America Corp (NYSE:BAC) has unseated the king.
Apple’s History On Top
The site reported that Apple Inc. (NASDAQ:AAPL) has been on top for more than the last year and a half. Citigroup Inc (NYSE:C) was the previous holder of the top spot, although Apple Inc. (NASDAQ:AAPL) started showing up at the top of the list in 2010. Often it made the top of the list on the days of its earnings reports and during MacWorld events.
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A year later, it started swapping with Citigroup regularly for the top spot. In January 2012, Apple landed at the top of the list and remained there, taking up between 5 and 25 percent of CNBC’s ticker traffic any day. The company said Apple was unseated for two brief days when Facebook Inc (NASDAQ:FB) had its initial public offering, but it didn’t take long for Apple to become king again.
Will Apple Climb Back Up Again?
According to CNBC Managing Editor Allen Wastler, Bank of America Corp (NYSE:BAC)’s exceptionally strong earnings on Thursday likely accounted for why so many more people were looking its stock up. But does this mean Apple Inc. (NASDAQ:AAPL) will swipe its crown back in a day or two?
He then considers what might be behind the change in ticker look-ups. Apple Inc. (NASDAQ:AAPL) shares have dropped 18 percent so far year to date, but as the site’s chart shows, the falling price hasn’t affected ticker look-ups that much. In fact, sudden sharp moves increased ticker look-ups for the stock as investors looked to see what was happening with the stock and why it had moved so suddenly.
Of course the fact that so many investors own shares of Apple Inc. (NASDAQ:AAPL) is probably one of the reasons it has remained at the top of CNBC’s list for so long. So it might be just a matter of time as far as when Apple will return to the top of the list. Expectations for the company’s next earnings report are all over the place, so when Apple Inc. (NASDAQ:AAPL) releases its next earnings report next week, it could very well become the most looked-up stock again, no matter what the results say, if it doesn’t retake the crown before then.