Apple shares hit an alarming low
Apple shares shocked stockholders by closing at close to $400- the first time the stock dropped this much since 2011. Although events like the Boston Marathon caused the stock market to drop overall, the impact on Apple was a bit startling to shareholders. This drop in Apple stock to $402.80 was a drastic fall of 5.5% on the S&P.
Apple is expected to report less than stellar quarterly earnings next week, which may be linked with this recent drop in stock price, but whatever the reason, shareholders are not happy with this $300 drop in stock price just from September of last year.
The truth shareholders have to realize is, since Steve Jobs died Apple has not been the same company. The stock has continually dropped since the new CEO took over and although the company trades at one of the highest rates on the S&P, some wonder if its only a matter of time before the stock completely falls.
Drop in Apple shares, weak profits drag Wall Street lower
Gasp! Apple shares drop below $400 for the first time in two years