Filed under: Apple Financial
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?
![TUAW [Cafepress]](http://www.blogsmithmedia.com/www.tuaw.com/media/tuaw-cafepress-promo.png)
Reader Comments (Page 1 of 1)
Allister said 10:14PM on 11-20-2008
BUY! BUY! BUY!
Reply
Fernando said 10:18PM on 11-20-2008
Well, blame it on the us economy, or the global economy if you will
Reply
Burento said 10:28PM on 11-20-2008
All you have to do is go to a university campus or high school and look at what people have or are planning on buying for their next laptop; more often than not it's a mac. This generation is going to control the market in the near future, and I can bet you you're gonna look back at this time and wish you had invested.
Reply
Rboyett said 10:39PM on 11-20-2008
No, don't buy. Not yet.
This isn't over. Apple is a damn good company that is particularly well run. It has outstanding fundamentals. However, this fall isn't over. Apple's stock is simply the victim of the panic on wall street.
I'm not yet sure when I would buy in, but I most certainly will. Just not yet..
Reply
Tony said 12:12PM on 11-21-2008
Actually, it IS a good time to buy...just don't buy all your shares at once. Buy in small increments to average in your price.
Caleb H said 10:41PM on 11-20-2008
I don't know anything about the advantages of having a company with stock holders but could apple be trying to lower it's stock prices, by not releasing anything that people are excited about so that the company can eventually with there cash reserves buy back there company and if a economic crysis occurs then they will not die with the rest of the market?
Reply
doug said 1:11AM on 11-21-2008
if an economic crisis occurs? you are riding in the eye of the storm my friend...the good news for apple is they are sitting on, I think, $24 billion in cash. That will buy you a lot of time in a well-run company.
I would not recommend the stock here though, not because of apple, but the global economic situation. everyone said it was cheap at $100 and at $90. and it keeps going down. I would want to see something of a bottom develop before entering this market. I thought 8000 was the floor, but the floor might be the floor. These are no ordinary times.
fishbert said 11:01PM on 11-20-2008
As painful as it is for my portfolio, AAPL only mirrored the Dow today. Nothing special.
Reply
Ernie P said 11:42PM on 11-20-2008
Turns those machines back on! Those high priced systems aren't looking great now...
Reply
Aaron Davies said 12:03AM on 11-21-2008
oh come on, the market as a whole is back to where it was eleven years ago (literally, check the Dow for October 97). AAPL, split adjusted, is *sixty-four* times what it was then--that's over 6000% gain (while the Dow is now flat for the same period). me, i have AAPL at (adjusted) $35.30, so i'm going to be hanging on for the long term. (which is not so say i don't wish i'd sold on 2008-01-02....)
Reply
Howie Isaacks said 12:14AM on 11-21-2008
"Cries itself to sleep"????
What kind of stupid ass thing to say is that?
Reply
Robert Palmer said 1:44AM on 11-21-2008
Must ... resist ... emo ... picture ... joke ...
ubn2 said 12:20AM on 11-21-2008
wtf? isnt apple doing like really well with no debt? even gaining market share? so it seems like a good idea to invest...right? so why is apple doing so bad in the stock market?
Reply
Mike Scherer said 1:42AM on 11-21-2008
So there it is again: stock price has absolutely nothing to do with company performance. It's all just speculation and manipulation. What WOULD the world be that actually rewarded success and hard work? Oh, and desirable product
When will we fix this so-called capitalistic system? More like crapitolistic. Just try to argue that I'm wrong. HA! No evidence here!
Reply
Jeff Davis said 8:03AM on 11-21-2008
Apple "fundamentals" may be sound the decline in the stock price is related to the companies performance. Product quality and innovation aside, if Americans are cutting back on spending particularly on non-essential items (i.e. computers, phones, ipods, software) then Apple will be hit. Yes, in the Apple myopia that exists on these boards, fans/devotees are defenders of the Jobsian world. Another expo or product launch may not be sufficient to push consumers to buy. The general population is worried about their jobs, paying for food, gas, utilities and not on the next WOW gadget. Lastly, the comment about Macs being omnipresent at college campuses is funny given that this has been the case for many years even in the 90s. Apple's student discount drives the usage. The unfortunate thing is prior college students once out of college then switch to enterprise computers (i.e the evil pc).
If you have the money and can invest then it may be a buying opportunity but with every buy comes risk. I for one would wait for a price under $65 to buy while keeping an eye on the overall economy.
Olligarski said 8:00AM on 11-21-2008
@Robert Palmer: "past performance does not necessarily indicate future results"
Actually, past performance does indeed indicate future results. Most prominent technical analyser was of course W D Gann.
Reply
balls said 12:54PM on 11-21-2008
It should be noted that
"%s has hit a 52wk low"
Because everything is down.
Reply