AAPL hits 52-week low, cries itself to sleep
Apple shares today dropped to an intra-day 52-week low of a penny over $75, and rebounded to close at $80.49 per share. That was down 5.8 points from yesterday's close.
This marks the lowest prices for Apple stock since the introduction of the iPhone in early 2007. Many stocks lost ground today in a broad market selloff that saw the Dow Jones Industrial Average down nearly 445 points.
Marketwatch.com's Rex Crum says that AAPL has lost "the iPhone premium": That is, whatever gains the company made since the introduction of the popular handset. Apple shares hit a peak of almost $203 per share late last year, but those days are long gone.
If there's a silver lining to this gray cloud, it's that now might be a good time to buy. Macworld Expo is coming in January. In years past, the stock price has risen in anticipation of product announcements at the expo, leading to a selling frenzy the day of the keynote.
Of course, past performance does not necessarily indicate future results. In this market, who knows?
Subscribe to Newsletter
Software Updatesmore updates
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration
- Yahoo Mail improves email inbox searching with new filtering options
- Ember for Mac gains 'hugely-requested' screen recording feature
- Spotify update adds equalizer, refreshed Artist page and more
- Fantastical 2.1 for iOS adds new snooze, search and notification features
- ExpanDrive 4, more services and faster sync