Apple's stock took a sharp jump downwards at the opening bell this morning, continuing the rough slide it's been on since the last quarter of 2012. The stock is currently trading around $488 a share. Back in September of 2012, at its peak price of $705 a share, Apple was far and away the world's most valuable company, a crowning achievement for a company that had its share of dark days in the 1990s. But with the loss of its iconic leader, Steve Jobs, and recent flubs on software such as new Maps app, investors seem to have lost much of their confidence in Apple.
"The company has never traded on its profit, it's the exact opposite of Amazon," said trader and Stocktwits founder Howard Lindzon. "Apple has been rewarded for its innovation. The market is expecting more magic. Apple is kind of stuck, for a company that executes so flawlessly. They are printing money, and the market doesn't care." More here.
1 comment:
What goes up must come down.
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