Apple enters correction territory as broader markets slump

“Shares of Apple fell nearly 2 percent on Tuesday, dipping into correction territory as the broader markets slumped,” Anita Balakrishnan reports for CNBC.

“Falling as low as $110.53 a share, Apple was, at one point, down more than 10 percent from its last 52-week high of $123.82 on Nov. 4, 2015. A 10 percent downward move from the last 52-week high is known as a ‘correction,'” Balakrishnan reports. “Shares closed 1.8 percent lower at $111.47.”

“The Dow Jones industrial average briefly fell about 200 points on Tuesday, breaking below 18,000, as the U.S. presidential election and Federal Reserve meeting loomed,” Balakrishnan reports. “Apple fell alongside the market, contributing the most losses to the Dow and seeing the biggest point impact in the Nasdaq 100 on Tuesday afternoon.”

Read more in the full article here.

MacDailyNews Take: This too shall pass.

8 Comments

  1. Time for Tim Cook to go. All product rollouts are disasters now. Air buds possible delay until 2017, 4 year wait for subpar Macpro which will NOT be in Apple stores with TOUCHBAR for another 2 weeks. I am referring to units that you can actually look at. Apple Music a failure. Apple News. Failure. Apple Wafch compromised over priced product. Apple TV not 4K. No Content. ICLOUD not great. Project TITAN rumored to be changing strategy massively. No Leadership and we are witnessing the destruction of a great company. The world has passed Tim Cook by. Best of luck with the snazzy new campus.

  2. I’ve been telling MDN viewers for 6 straight years that Tim Cook is lazy, greedy, and incompetent. I saw every botched launch, each boring and pointless keynote presentation, every failed product, the caving of AAPL, and every misstep in the handling of Apple’s stock and its executive management team.

    When Cook killed the 30-pin connector and destroyed an entire industry, causing everyone to lose hundreds to thousands of dollars of Apple accesories acquired over many years, solely to line his pockets with adapter money from Apple and 3rd party vendors… I saw the writing on the wall.

    Only now do you all see what I’ve known from the beginning:

    Tim Cook is incompetent, lazy, and greedy

    Tim Cook doesn’t care about Apple

    Tim Cook doesn’t care about Apple consumers

    Tim Cook doesn’t care about Apple Pro users

    Tim Cook has botched EVERY single launch he’s had

    Tim Cook relies on his adapter strategy to fleece Apple consumers

    The only thing Tim Cook cares about is promoting gay rights on Apple’s dime and keeping his face in the spotlight.

    He really hated Steve Jobs

    Ruining Apple is a deliberate act and is considered to be some type of retribution for him

    If he’s not replaced soon… Apple will be no more!

    1. Tim Cook is running it like Steve Jobs did for better or worse. Jobs had failed launches (Remember Mobile Me anyone? Remember antenna gate?) Jobs killed existing connectors.

    2. You haven’t been taking your medication again. Or maybe you’ve been taking too much…

      When Apple ceases to be the world’s most valuable company, then you can come back and talk to us.

      Come back with facts though…not conjecture and emotional rubbish.

  3. Correction of what? The misconceived notions of the market only. The doom and gloom of Apple as always perceived by the market. Even as the company still rakes in Billions in profit and has an R&D budget that rivals Formula One the market is always negative against Apple. I thought the market was supposed to look at if the company makes a profit they should reflect that with stock rising not falling. Because when it comes down to it the only thing that matters is if a company is making a profit period. Yet these dumbasses can only see negative all the time along with the dumbass writers who write about Apple in a negative light even before products ship.

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