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 TMO Headlines - Updated February 27th

Mon, 5:11 PM
Apple gets the Upper Hand on Qualcomm Thanks to Intel's CDMA Chips
Mon, 3:53 PM
TMO Background Mode: Interview with CNET Senior Editor & TV Reviewer David Katzmaier
Mon, 2:08 PM
Why Apple Might Discontinue the Mac Pro - TMO Daily Observations 2017-02-27
Mon, 12:06 PM
FRESHeBUDS Air Bluetooth 4.1 Earbuds
Mon, 11:34 AM
New Drone Footage Shows Nearly Complete Apple Park
Mon, 11:10 AM
AT&T Revamps Unlimited Data Plans with Tethering, Lower Prices
Sun, 10:47 AM
How do I choose a UPS? – Mac Geek Gab 646
Sun, 1:15 AM
Get Free Bitcoins from 11 Faucets That (Still) Pay
Sat, 9:42 PM
How to Turn Siri into a Metronome (Video)
Fri, 10:17 PM
Stanford's 'Developing iOS 10 Apps with Swift' free on iTunes U
Fri, 8:20 PM
iPhone Screen Repairs By Third Parties Now Get Some Warranty Coverage
Fri, 7:56 PM
Amazon Goes with First Amendment to Protect Alexa Recordings
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!