Apple tumbles below $400

“Look out below Apple edition,” Steven Russolillo reports for The Associated Press.

“Apple Inc. shares fell below $400 for the first time since April amid a global selloff that started in China and is now hitting U.S. markets,” Russolillo reports. “Apple shares, which had stabilized over the past two months following the big tumble that kicked off the year, now appear ready to test their lows of the recent cycle.”

Russolillo reports, “Apple recently fell 3.5% to $399.17. The stock fell as low as $385.10 back on April 19 before trading in the low $400s for the past two months. For today, it looks like Apple is getting swept up in the global-market selloff. While analysts have become less bullish on the stock, most don’t expect another slump similar to what took place bridging the end of 2012 and the beginning of this year… The 55 Wall Street analysts that cover Apple have an average price target of $527.50 on the stock, a figure that has come down from above $700 at the end of the year but still remains well above current levels.”

Read more in the full article here.

Related article:
After precipitous stock slide, Apple Board puts 40 percent of Tim Cook’s pay package at risk – June 21, 2013

20 Comments

  1. Reminds me of an old Onion headline: World ends. Michael Jackson and six billion others perish.

    This is a marketwide sell off and we get a headline about Apple.

  2. With or without a market sell off, AAPL is in full collapse. It will remain so as long as the Apple Inc. board just sits on their billions and lets Tim Cook occupy the chair at the head of the table.The rest of us AAPL holders and the entire world of Apple consumers can keep on being disappointed. Even the lemmings on this board are beginning to realize the stupidity of their belief in the hapless CEO.

    1. It’s deja vu…
      At the iPods debut all the pundits said it was way too expensive and would never be more than a “niche” product. A toy for rich apple fans.
      A few years after that when the ipod devastated not only all the music player markets but it’s companion itunes grabbed the lion share of the music sales, all the haters were still blathering on, endlessly. This time about how apple didn’t really create the market, and how apple was going down and couldn’t innovate like that, AGAIN…. And about how they couldn’t possibly continue at their current market share and how the cheap knock off’s were eating the “oh so expensive” iPod alive in market share and how the dell ditty and the MS zune would soon be the media player kings.

      All the whole apple just kept pushing forward creating one unconventional, unorthodox groundbreaking… and yet somehow irresistible, product after another.
      Just like now…

  3. it is what I expected because TIm & other VP sold their stock before its value would be more worse. it caused APPL drop below $400. I think that Tim & others don’t love the company or don’t feel any affection more. it’s very sad that Apple is only shine when Steve was in act. this company will be over soon.

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