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.
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Fatal error: Call to a member function sql_query() on a non-object in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 532
Recent Headlines - Updated May 21st
- Tue, 2:11 PM
- Native Instrument Releases Abbey Road 50s Drummer
- 12:47 PM
- News - Senator Paul: Stop Bullying Apple
- 10:01 AM
- News - AT&T Opening FaceTime Over Cellular to All
- 9:27 AM
- TMO Appearances - Jeff Gamet Talks Apple Taxes on The Mac Show
- 8:44 AM
- News - Google to Merchants: We’re Killing Google Checkout
- Mon, 10:50 PM
- Mac Geek Gab Podcast - MGG 450: Don’t Play Ding Dong Ditch on an Airplane
- 7:48 PM
- News - Apple Hits Another Record in Retail Dollars Per Visitor
- 6:50 PM
- Analysis - Bipartisan Senators Accuse Apple of Avoiding Billions in U.S. Taxes
- 5:58 PM
- TMO Appearances - Bryan Chaffin Talks About Apple Monday at SVMUG
- 5:13 PM
- Analysis - Apple Asks Congress to Eliminate Tax Loopholes, Lower Corporate Rates
- 2:55 PM
- Quick Look Review - Manage Your Movie Wish List on iPhone with ToDoMovies
- 2:32 PM
- Analysis - Samsung’s Answer to App Developer Interest: We’ll Pay You, Maybe
The Mac Observer Reader Specials
Support TMO, Buy from Amazon, MacMall and The Apple Store
