AAPL Down $10 in Pre-market Trading
AAPL Down $10 in Pre-market Trading
by , 9:30 AM EST, January 22nd, 2008
Apple's stock followed the general market trend on Tuesday morning to drop more than US$10 in value. The Mac and iPod maker's stock swooped down to multi-week low near $151 from its Monday night $161.36 closing price.
Apple closed at an all-time high of $198.95 on Wednesday, December 27, 2007, and then managed to climb up over $201 for a short time on December 28. After the first of the year, however, the company's stock was already slipping and soon dropped into the $160 price range.
The company's market cap was sitting at $141.28 billion on Tuesday morning ahead of its scheduled earnings report at 5PM EST.
Apple is currently trading at $151.04, down 10.32 (6.40%).
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
Observer Comments
Tue Jan 22, 2008 11:59 am Subject: Actually, even lower than that
AAPL started early morning trading today at $142.9. Last time it had seen those levels was in September. For a better picture, first time it got there was about six months ago (in July), right after the iPhone release. Therefore, all those who have held apple for longer than six months have never seen it come down to the level of their initial investment (and most likely, won't get that chance either).
The markets seem to be stabilising today. While they are down, the steep decline of the early morning has been reduced somewhat (NASDAQ already being in the positive territory at 11AM). The day is still young and we'll have to see. These are bad times for stock market investors. Hopefully, AAPL will not disappoint tonight and might give a bit of a boost to those who stuck to it through November and January.
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