Filed under: Apple Financial
AAPL touches 52-week low, closes under $100
Apple shares today reached their lowest price point since April 2007, closing at 97.07, down 3.03 points.
AAPL hit its 52-week low today, $94.65 per share, around 3:45 PM Eastern.
Early in the day, the stock was jarred with false rumors from CNN's iReport service about Steve Jobs suffering a heart attack. TUAW's own Michael Rose was among the first to contact Apple's PR VP, Katie Cotton, who said the rumors were untrue.
After the scare, prices rebounded, but never reached their highs for the day just before the rumor bubbled to the surface. Volume was at its heaviest before 10 a.m. Eastern, with about 16 million shares changing hands. In sum total, 82 million shares were traded over the course of the day.
Apple shares were slightly ahead in early after-hours trading.
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Reader Comments (Page 1 of 1)
Rick B. said 4:58PM on 10-03-2008
Does anybody else smell an investigation into the fake hear attack story? This stinks of somebody shorting AAPL and planting the fake story to drive the price down......
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matt said 5:05PM on 10-03-2008
either Bloomberg or NYT already said that the SEC will be investigating for that very reason
Colin said 5:09PM on 10-03-2008
Uh.. Steve did have a heart attack.
CNN ain't lyin', dawg.
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Greg said 10:42PM on 10-03-2008
Except it wasn't CNN, but a CNN site called ireport.com which has only user submitted content, and since then CNN itself has removed the content from their site because they knew it was a fraud.
designr said 5:33PM on 10-03-2008
All my other stocks are worthless. Why should my AAPL stock be any different?
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Bassir said 5:36PM on 10-03-2008
Speaking of stocks, I have over 3,000 shares of IndyMac (IDMC.PK).
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ogvor said 5:36PM on 10-03-2008
This seems to reflect a problem that the company has: so much is reliant on Steve Jobs (somewhat rightfully so) that if and when he leaves the company their going to need to prove they can continue to be a great company without him.
Also, its not like the economy is doing so great all around.
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mark said 5:47PM on 10-03-2008
Steve or not, this is a luxury stock, the most volatile of all in bad times.
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Neil said 5:48PM on 10-03-2008
Good, the stock deserves to be falling because their recent products have been disappointing. They've shown they've run out of ideas for the music market and their computer offerings are getting uglier with every iteration.
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kamalesh.thakker said 6:46PM on 10-03-2008
*Naked* short-selling has worked and will work, as long as the SEC doesn't regulate it.
http://www.theregister.co.uk/2008/10/01/wikipedia_and_naked_shorting/
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ANTONY said 6:15PM on 10-03-2008
These people are manipulating the stocks of APPLE (second time in a row ) and NOBODY does something about this ?
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Last time Bloomberg TV said that Steve jobs had died.
No wonder by the US economy goes great these days , we all paying the consequences of similar incidents
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Michael@reinhartstudios.com said 11:58PM on 10-03-2008
Fuck all that bullshit. I bought a TON of stocks because they're a bargain. The SHOULD be valued at 200...
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mabhatter said 10:33AM on 10-04-2008
exactly, there's no valid reason for Apple to go this low except that the market is stupid. (and over history it really is) Wall street can delude itself all it wants the economy has been going down slowly for 5 years, they refuse to tighten their belts and keep gambling bigger money.. hence the bailout, just a market correction because Wall Street's value is generally overrated.
Apple is making big bucks on higher margin products than any other consumer computer maker and customer just keep buying. iPods are dropping just a little in each cycle to compensate for the economy..Apple's higher priced computers keep selling because customers feel they provide more value. Apple is doing fine, they post profits, they beat the "analysts" by a little bit when every body else is losing, yet consistently lose value every time they do good. Wall street is officially "play money" and doesn't represent reality anymore.
maia said 12:07PM on 10-04-2008
Yeah, Wall Street is legalized gambling.
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morris said 11:07PM on 10-04-2008
885 million shares traded over the course of the day would mean ALL existing shares changed hands friday.
Lets at least all agree to get the facts right on the rumor site... sheesh.
85 million. Well, 82.14 million to be exact (according to G finance).
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