Nasdaq slumps as Apple stock price hits 10-month low

“The Nasdaq Composite Index fell 0.62% to 2,973.68 at 3:00 p.m. EST today as Apple stock fell to a 10-month low,” Jonah Loeb reports for Minyanville.

“The tech giant saw its stock price plummet 3.87% to just $509.20 after consumer pressure forced it to bring Google Maps services back to iOS,” Loeb reports.

MacDailyNews Take: No. Apple removed Google’s data from iOS Maps and, due to this newfound competition, Google was forced to up their game. They wrote a new Maps app and submitted it to Apple’s App Store for approval. Having followed Apple’s guidelines, the app was approved.

Loeb reports, “Facebook also hit a skid today, falling 3.90% to $27.14 as its fourth lockup period expired, opening up another 156 million shares of the company to public trading.”

Read more in the full article here.

MacDailyNews Take: We find it highly doubtful that Apple’s iPhone cementing it’s position as the undisputed best smartphone for mobile maps caused the stock to swoon. Perhaps other factors are weighing on the stock?

8 Comments

  1. The old Maps app wasn’t a Google app, it was an Apple app that used Google’s map API.

    “Google Maps” was never on iOS to begin with, so it isn’t “back”.

    A.

  2. Clueless! This has nothing to do with Google maps. This is the Federal Government forcing a massive sell off to pay capital gains prior to an abusive TAX increase.

    Not Google. Revenge using TAXING of assets so they can redistribute investors wealth to buy their next election! There are a lot of retired Americans that lost 1/4th of their money this quarter. Congratulations to all those government leaders that are doing this to American that were counting on that money to live.

      1. The stock slumped because of SOCIALISM and all them colored folk having 10 kids and taking MY HEALTHCARE MONEY. We need guns to defend ourselves from the crackheads coming TO RAPE MY WIFE.

  3. AND APPLE FALLS AGAIN TO NEAR $ 500 per share. A $ 200 PER SHARE HIT IN UNDER TWO MONTHS !!!!! And no one in the community seems to care. NOR, does Apple. Meanwhile, Google closed at over $ 700 PER SHARE TODAY. WHY ??????

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