Apple Stock Down 5 Points, Investors Taking Profits? Update
4:44 pm, October 27th, 2009, Leander Kahney

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.
Posted by Leander Kahney in Apple, News | Comment on this article












Galleon Group sold 90% of all the investments. Most in Google, eBay and Apple shares.
http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=AAPL%3AUS&sid=asxJna.F.5tQ
Fabio, on October 27th, 2009 at 4:54 pm