Apple‘s stock fell to another new low point of its current crash, closing at $420.15. It’s an incredible decline for the stock which was at $700 in September.

Why? Investors are worried about the rise of Android, Apple’s margins collapsing, the lack of a mega product in the works, and the post-Steve Jobs era.

Investing genius Jeff Gundlach says the crash in Apple is proof that markets aren’t efficient, rather the result of herd mentality and idiosyncratic behaviors.

Apple’s market cap is now below Exxon, and it is no longer the most valuable company in the world.

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