“Apple’s stock fell to $400 per share, hovering near that level in midday trading Monday following a pair of analyst reports that cast renewed doubts about the company’s growth,” Chris O’Brien reports for The Los Angeles Times.
“Trip Chowdhry, an analyst at Global Equities Research, also said Apple Inc. employees are expressing concern about the company’s direction and are leaving to work for rivals such as Google Inc. and Facebook Inc.,” O’Brien reports. “‘Lower Stock price is causing Apple to continue to lose employees to Google, LinkedIn. FaceBook and HP,’ he wrote. ‘Employee morale at Apple is low.'”
O’Brien reports, “Peter Misek, an analyst at Jefferies & Co., reported that merchants have increased inventories of iPhones, a sign that sales are slower than expected.”
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“Apple, the world’s most valuable technology company, fell 2.7 percent to $402.54 at the close in New York, after earlier dropping as low as $398.05,” Adam Satariano reports for Bloomberg. “The shares have declined 24 percent this year, compared with a 10 percent gain in the Standard & Poor’s 500 Index.”
“Other than a new MacBook Air laptop, Apple hasn’t had a new product go on sale since last year, leaving investors and customers awaiting the release of a new iPhone and iPad, which may arrive later this year,” Satariano reports. “Apple’s profit fell for the first time in a decade in the most recent quarter, and analysts predict the slump will continue in the current period.”
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MacDailyNews Take: FUD.
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