AAPL Drops 3.8% in Broad Selloff

| Apple Stock Watch

Shares in Apple Inc. shed more than 4% on Thursday in a broad market selloff sparked by concerns over a European financial crisis that’s been brewing for weeks. AAPL briefly dipped as low as $230.90 a share, but a late-session rally resulted in a climb back to $246.25, down $9.735 on the day (-3.80%), on heavy volume of 45.3 million shares trading hands.

Other tech stocks suffering losses include:

  • Microsoft, which closed at $28.98, down $0.87 (-2.91%), on heavy volume of 126.6 million shares.
  • IBM, which closed at $123.92, down $2.89 (-2.28%),on heavy volume of 13 million shares.
  • Google, which closed at $498.67, down $11.09 (-2.18%), on heavy volume of 4.9 million shares.
  • Intel, which closed at $21.51, down $0.6625 (-2.99%), on heavy volume of 160 million shares.
  • Cisco, which closed at $25.49, down $1.06 (-3.99%), on heavy volume of 97.6 million shares.

Etc.

AAPL is off its closing high of $270.83, set on April 23rd. Investors have been pleased with Apple’s March quarter performance and the strong introduction of the iPad. Recent losses for the stock have largely been attributed to broader worries that started with Greece’s economic and budgetary woes.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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12 Comments Leave Your Own

Tiger

Oh Bryan, you missed your chance at a great headline!

AAPL Drops 3.8% in a Flash!

Bryan Chaffin

Ha! That’s awesome. smile

Lee Dronick

I checked a few minutes ago and AAPL was back up to 254.78 I guess that the drop was a just a “Flash in the pan.”

I just tried to check again and couldn’t get an update, the news is reporting that the stock site is getting hammered with hits.

SirDennis

Check the current market news. A lot of today’s sell off was caused by a computer error (or human, still under investigation) of Procter & Gamble stock. Tomorrow morning is likely to be worse with recovery back during next week. Hang in there all - and check your resources on this matter.

Bryan Chaffin

Si Harry, I’m showing AAPL’s after-hours price at $244.51.

SirDennis

...yep, $244.35 now. As I said the market is ALL messed up at the moment and we can expect a mess tomorrow - the after hours prices prove my point. Hang in there and pick up some AAPL if you’re able.

Lee Dronick

Your right Sir Dennis, I just checked the after hours webpage at NASDAQ and it shows AAPL in the two forties; I bet some people are popping open some “Forties”. Not to worry, things will settle down.

I had been checking using the iPhone Stock App and had a lot of trouble getting a connection. Maybe the price the app showed was stored in cache, or cash as the case may be.

Even at 244 I am way above the price that I originally purchased my shares.

vpndev

Seems that a Citibank trader made a typo.

Woops.

http://www.cnbc.com/id/36999239

Garion

AAPL stock actually plunged below $200 briefly today. In about half an hour APPL stock lost over $40 dollars in value per share! Crazy stuff.

Tiger

It’s the Greece on the skids…

Lee Dronick

Good one Tiger!

Tiger

Thank you, thank you very much.

I’d say I’ll be here all night, but I’m heading to dinner at two of my faculty members’ tonight for a home cooked meal in exchange for me fixing an MSWord issue on her MacBook Pro.

It’s a fair exchange!

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