AAPL Down Dramatically for No Obvious Reasons

Apple Stock Watch

John Martellaro

3:00 PM, May. 20th ET, 2008

Articles by Author John Martellaro on Twitter Contact Author Bio

Comments (0)

Appleis stock (AAPL) dropped nearly US$8.00 on Wednesday for no obvious reasons, according to Barronis. 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 Jaffrayis 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.

Post A Comment or Log-in. Need an account? Register here.

Recent Headlines - Updated May 25th

Fri, 8:25 AM: TMO Quick Tip - Mac OS X: Getting the Most Out of the Fonts Window
Thu, 7:56 PM: News - Jonathan Ive Tells BBC He Wants to Stay at Apple
7:44 PM: News - Apple’s European Head Departs
6:01 PM: News - Apple Pulls Rogue Amoeba’s Airfoil Speakers Touch from App Store
5:33 PM: Product News - Apple Updates Aperture for External Editors, Snow Leopard
5:23 PM: Mac Geek Gab Premium Podcast - MGG 399: Five Questions from Three Scotts
5:16 PM: News - Apple & Others Settle Mobile Lawsuit With Patent Firm SimpleAir
4:44 PM: Editorial - How the Ripples in Apple’s TechSphere Will Influence Us
4:02 PM: News - Microsoft Wins Motorola Android Device Ban in Germany
3:14 PM: News - Jury: Google’s Android Doesn’t Infringe on Oracle’s Java Patents
2:41 PM: Quick Look Review - Casellet: iPhone 4S Case and Wallet Combined
1:12 PM: Deal Brothers - 13” MacBook Air 1.86 GHz Intel Core 2 Duo: $1,099

The Mac Observer Reader Specials

Macsales.com for the Right Mac Memory. Most Popular: 16GB from $128; 8GB from $50. MacBook Pro & Mac mini Kits up to 16GB. iMac up to 32GB & Mac Pro now up to 128GB. - Macsales.com
Mac RAM Upgrades: MacBook Pro 16GB kits $475, 8GB Kits for $119.99! iMac 16GB RAM Kits (4x 4GB) for $229.99! Mac Pro Memory 32GB Kit for $399.99, 64GB Kit for $889.99! Mac Hard Drives 2TB Seagate SATA II for $249.99! Click Here!
If you're using a Mac, then you've gotta check out PokerOnAMac.com. Online casinos and poker rooms are literally giving away cash and the casino sites at Poker on a Mac do the unthinkable, they actually reward! Join today, the download is free!
Looking to find online casinos for mac? We can help you find the best real money casino sites where you can play your favorite casino games including blackjack and slots.

Buy Stuff, Support TMO via Apple or Amazon
Deals from DealBrothers.com
Reader Specials
Read TMO on Kindle
TMO on Twitter and FaceBook:

Apple Stock Quote (AAPL)

Last trade: $---.-- $---.--
Market cap: $---.--
Discuss in our Apple Finance Board

Quotes are delayed. Currency in USD

Hot Topics

What's the buzz? These articles have TMO readers talking.

Samsung: Apple’s Trial Experts Are “Slavish” Fanboys - 19 Comments
Apple Could Use 7” iPad Pricing to Punish Competitors - 18 Comments
Forrester: Maybe Apple’s TV Isn’t a TV - 8 Comments
Analyst: Apple to Offer iPhone 3GS as Pre-Paid Option - 8 Comments
Jonathan Ive Calls Apple’s Current Project the “Most Important” - 7 Comments
Estimated Apple TV Sales to Date: 6.3 Million - 7 Comments

TMO Express

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday. Find out more!

Top Deals From DealBrothers.com

Recent Features

Get the latest installments of TMO Columns, Podcasts, & Blogs.

© The Mac Observer, Inc. -- All rights reserved. All information presented on this site is copyrighted by The Mac Observer, Inc. except where otherwise noted. No portion of this site may be copied without express written consent. Other sites are invited to link to any aspect of this site provided that all content is presented in its original form and is not placed within another frame. The Mac Observer is an independent publication and has not been authorized, sponsored, or otherwise approved by Apple, Inc.