The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
AAPL Down Dramatically for No Obvious Reasons

AAPL Down Dramatically for No Obvious Reasons

by , 4:35 PM EDT, May 21st, 2008

Apple's stock (AAPL) dropped nearly US$8.00 on Wednesday for no obvious reasons, according to Barron's. It could be nothing more than profit taking in an ugly market.

The news about Apple on Wednesday was minor: a lawsuit over the name "Mighty Mouse" and the fact that the company will use LED backlighting in future notebook computers, noted Eric Savitz.

Mr. Savitz wrote that "Today’s downturn appears to be nothing more than profit-taking in an ugly broad market."

The Market observer also noted that Piper Jaffray's Gene Munster, in what was characterized as an unusually cautious research note to investors, told them to keep their expectations for the iPhone "in check." Mr. Jaffray expects the new iPhone 3G to be nearly identical in form and function to the current model.

AAPL closed at US$178.19, down $7.71 for the day.


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.

Recent Headlines - Updated September 19th

Fri,2:45 AM
First iPhone 6 Sold in Perth Dropped by Kid During TV Interview
Thu,10:22 PM
Dragon Dictate for Mac 4: $99.95
8:25 PM
iOS 8: How to-Enable Safari Extensions
6:00 PM
iOS 8 In-Depth Review: Apple Opens Mobile OS to Developers, You Win
5:45 PM
iOS 8: Apple Finally Fixes its iPhone Weather App
5:09 PM
5th Ave Apple Store iPhone 6 Campout Stretches 3 Blocks
3:30 PM
iOS 8: Quickly Access Your Favorite Contacts with Home Button
2:15 PM
How to Install and Activate Third-Party Keyboards in iOS 8
1:47 PM
TMO Daily Observations: 2014-09-18
11:11 AM
Analyst: iPhone 6 Launch Weekend Sales to Fall Short, No Big Deal
10:04 AM
iOS 8: Taking Full Advantage of Interactive Notifications
9:22 AM
Apple TV Gets Beats Channel, Family Sharing
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!