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.
Observer Comments
Wed May 21, 2008 5:18 pm Subject: iPhone Expectations
The point for the 3G iPhone will be the software feature set, not so much the hardware. We will probably get 3G radio and slightly different colour. Other than that, perhaps (but it's a low probability) a front-side camera for iChat.
The broader issue here is the multi-country distribution deals around the world. The iPhone v.1 has already built up this strong demand, there is no doubt that they will sell briskly.
This should help stock hold its ground in the bear market.
Comments are currently closed. Please email the author instead.
Recent Headlines - Updated November 21st
- Fri, 7:07 PM
- Games - Soccer Sim Championship Manager 2010 Released for Mac
- 6:47 PM
- Games - EA Publishes Original Monopoly for iPhone
- 6:15 PM
- News - Original Apple I on Ebay for $50K, w/Letter from Steve Jobs
- 6:11 PM
- Games - New iPhone Games: Secret of the Lost Cavern Ep 1, New DJ Nights, More
- 5:47 PM
- Games - Star Trek D-A-C Game Headed to the Mac Next Month
- 4:57 PM
- Product News - TidBITS Releases “Take Control of Syncing Data in Snow Leopard”
- 4:26 PM
- John Martellaro's Blog - Particle Debris (week ending 11/20) Stationery Pads Go Poof
- 2:59 PM
- Free on iTunes - Musée du Louvre, Art Lite, SketchBook Mobile X and More.
- 1:50 PM
- Deal Brothers - Acer P215H bmid 21.5” Widescreen LCD Monitor: $139.99
- 11:24 AM
- TMO Appearances - Jeff Gamet Shares More Holiday Gift Ideas on MacJury
- 10:43 AM
- Product News - Cocktail 4.5 for Leopard Adds QuickLook Cache Clearing
- 10:06 AM
- News - Hack Enables Mac OS X 10.6.2 on Netbooks
The Mac Observer Reader Specials
- TypeStyler For Mac OS X is Now Shipping! Download The Free Fully Functional 60 Day Tryout at www.typestyler.com
OWC: Plug & Play Hardware RAID up to 8.0TB. High Performance, Data Redundant Solutions. FireWire 800, FireWire 400, USB2, or eSATA. Hot Swappable Bays, Data Rates over 200MB/s. Click here
If you're using a Mac, then you've gotta check out Full Tilt Poker for Mac. This Full Tilt Poker bonus code does the unthinkable, it actually rewards!For the latest Apple products use Ciao, a price comparison website, to find laptops like MacBook Air. Then find the best prices on MP3 players and use our comparison tool to evaluate mobile phones like the Apple iPhone.
Laptop Hardware Provided by TechRestore - Overnight Mac & iPod Repairs.
