Fueled by concerns over weak iPhone 5 demand, Apple stock (AAPL) is flirting with prices below $500 for the first time in almost a year.
Apple broke through the $500 price level February 16th, 2011 leading up to a peak price of $702 on September 19th, 2011. Apple stock has slid since then, except for a brief rally from November 19th–December 3rd, based on missing Street estimates, sales of the iPhone 5, and rumors about competition.
Today’s chart shows the brief flirtation with sub-$500:
but looking at the last year:
You see the rise and fall of Apple stock (still the largest, if not close to the largest company by value in the world).
I’m not a financial analyst, but I think part of the problem here is that investors are a little skittish about a consumer electronics company valued so highly. Consumer electronics is a tough business. Consumers a notoriously fickle. Right now the iPhone and iPad are hot, but in a year? They could be old hat.
We won’t know how good, or bad, Apple’s last quarter was (Q1 2013 which is Oct–Dec, 2012) until next Thursday (the 24th) when Apple holds its earnings call and Q1 2013 report. Until then speculation about what a hitting component orders really means to Apple’s bottom line.
HT: 9to5MacLike this post? Share it!
Categories: Apple News