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12-15-2012, 05:46 AM #1
Apple Stock Falls to the Lowest It's Been Since February of 2012
As Apple recently released the iPhone 5 in China, it was predicted that things should be going well for the Cupertino California company on Wall Street but that isnít how things ended up. According to initial reports, the debut of the iPhone 5 has been somewhat slow due to a snowstorm hitting Beijing and a pre-order requirement to prevent rioting. Adding to the issues that Apple has to deal with, the companyís stock also ended up hitting a 10-month low today and is currently trading at $509.79, a value that has been the lowest since February.
Due the stock price of the company falling, UBS analyst Steve Milunovich ended up reducing his target estimates for the stock down to $700 from $780. Despite the recent chain of events many analysts continue to think that AAPL is a good stock to buy, with caution. Another thing that continues to hurt Apple stock is research from analyst Peter Misek from Jefferies, which points toward the Cupertino California companyís supply chain and the iPhone component suppliers involved seeing larger order cuts over the last 24-48 hours due to assembly execution issues. Misek is claiming that demand isnít an issue for the iPhone 5 as much as the fact that inventory is still limited at retail locations, simply because Apple canít make iPhone 5s fast enough to meet some analystsí shipment expectations for Q1. Weíll have to see how Apple handles the situation and attempts to turn things around.
Source: Forbes via Cult of Mac
12-15-2012, 08:49 AM #2
market's testing the lows. expecting it to break lower.
12-15-2012, 09:24 AM #3
12-15-2012, 02:15 PM #4
I'm trying to decide if I should buy some now or wait just a little longer to see if it drops a bit more. Although I can only buy a few shares at the moment haha.
12-15-2012, 02:34 PM #5
Well they ll upgrade when an untethered jb cOme along ow who has the time and incentive to do so..
12-15-2012, 04:53 PM #6
Still there's nice upside potential with Apple in mine and many other professional's opinion. But the sad part of the story is that in 2009, at the bottom of the recession, it was $69 a share. People who got in at that point have made a fortune on Apple.
I had a friend the other day tell me he was going to be selling "one share" of his Apple stock to buy his new iPhone 5. I just quietly sobbed to myself.
12-15-2012, 06:01 PM #7
12-15-2012, 11:41 PM #8
Last apple split was in 2005, so maybe if they do another 2-for-1 split a few more of us peasants can get in. With my luck, I'd buy and the price would tank. I bought CSCO right after the last split (historically, they always did little dip and then went on up). My break-even was around 35. Heh. I sold it in 2005 for parking change. So, because I don't want to see anyone with AAPL in their pockets jumping out of windows, I'll not buy any.