Apple stocks drops below $400 after peaking over $700
April 17, 2013 Leave a comment
For the first time since December 2011, Apple stock today dropped to under $400. In just seven months since its peak at $700 a share mark in September 2012, Apple has lost more than 40 percent of its market cap.
Some suggested that any time Apple chief executive Tim Cook said anything, the company’s price would drop during or immediately after.
Apple shot themselves in the foot. Many users with aging MacBooks have probably decided that buying a $1200+ toy just to surf, check Email, show off pictures and some videos figure it ain’t worth that price are instead sticking with Apple but buying iPads and iPad Minis – at least 50% cheaper than buying a MacBook where they barely use 10% of the features [and is bulkier].
Analysts [you know how much I like them!] believe that the number of iPhones for the current quarter will sell maybe a million fewer and also drop from the initial prediction of 32 million to 25 million in use. Part of which is because of the expected new batch of smartphones including the “iPhone killer” Samsung Galaxy S 4.