Apple stock opened morning trading today below $100, marking the first time it has dipped below this level since October 2014 — shortly after Apple introduced the iPhone 6.
AAPL shares dropped more than 2 percent in pre-market trading, with shares opening at $98.68. This marks the continuation of a rough period for Apple stock, which has fallen more than 21 percent during the past half a year.
Spooking the trading horses seems to be concern about continued iPhone growth (or lack thereof), not helped by the reports this week that Apple may have cut its iPhone 6s and 6s Plus orders by up to 30 percent. Concerns also continue surrounding the economic turbulence in China, which Tim Cook has been open about believing will soon be Apple’s biggest market.
While a total valuation of $560 billion is still nothing to be sniffed at, it’sa long way from the $700+ billion Apple was worth a bit over one year ago — and far, far away from the predictions of Apple as the world’s first $1 trillion company, as some analysts predicted in one of their giddier moments.
On the plus side? Probably not a bad time to pick up some cheap AAPL stock if you’re in the market for it.
Source: Fortune
Luke Dormehl is a U.K.-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution and The Formula: How Algorithms Solve All Our Problems … and Create More, both published by Penguin/Random House. His tech writing has also appeared in Wired, Fast Company, Techmeme and other publications.
4 responses to “Apple stock dips below $100 for the first time since 2014”
I’d be really wary about saying “probably a good time to pick up cheap AAPL stock” because it may well fall further. Without a proper analysis of the company neither you or I are in a position to say that. You’ll also find that most sites that talk about stocks in that sort of way also declare if they have any personal interest (if they hold AAPL for instance) and often have other legal disclaimers.
I don’t, for the record.
Why focus solely on AAPL like it’s somehow disassociated from every other stock or company? The entire stock market is down, including the Dow Jones, NASDAQ, S&P 500, Google, Yahoo, FTSE 100, DAX, HSI and more, so it’s understandable that Apple stocks are trading lower along with everyone else. The only stock exchange that isn’t in the red seems to be the NIKKEI, and it’s staying level with no change up or down. Come on Luke, don’t get sucked into the Apple-centric trap that so many other “analysts” get mesmerized into. If the entirety of the investment market is in the toilet, it’s almost certainly going to panic investors into being careful with ALL stocks, including AAPL. You don’t have to look farther than a very weak confidence in the entirety of the trepidation as shown by the Dow Jones, NASDAQ, S&P 500, etc. Once the market in general recovers, you’ll see AAPL recover its lost value just fine.
Don’t try to catch a falling knife.
Apple has long been overvalued and long overdue for a correction.