Apple Stock Down 5 Points, Investors Taking Profits? Update
Apple’s stock dropped 5 points on Tuesday to close at $197.37. The stock saw a run last week after the release of a raft of new products, hitting a high of $208.71.
One analyst suggests there’s resistance to the stock going above $207 (even though 2010 price targets are between $250-$300), but perhaps investors took some profits today?
Update: The big sell-off is probably due to the Galleon Group liquidating its investments after billionaire founder Raj Rajaratnam was charged with fraud. Bloomberg said the hedge-fund firm is busy selling 90 percent of its investments, mostly in Apple, Google and eBay. Thanks Fabio.
Leander Kahney is the editor and publisher of Cult of Mac, and author of three books about technology culture: 
