‘Unusual’ trading spurs sharp drop in Apple shares

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Apple shares took an inexplicable beating from investors on Monday morning, leading to the stock’s single biggest fall since January 28th, 2014. And no one really know why.

An unusual spike in trading volume this morning sent the price of AAPL shares falling as much as 6.4 percent to $111.27 in early trading this morning, leading to a loss of more than $40 billion in market value in just a few minutes.

Big investors think Apple could hit $1 trillion market cap in 2015

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You know what's cool? A new kind of social network. Photo: Columbia Pictures
Apple could be set for a trillion dollar valuation in 2015. Now that's cool. Photo: Columbia Pictures

“A million dollars isn’t cool,” says Justin Timberlake’s Sean Parker during one scene in The Social Network. “You know what’s cool? A billion dollars.”

If that’s the case, then people are going to need to come up with new words to describe Apple, because according to some of Wall Street’s best and brightest, the company could hit a trillion dollar valuation as early as next year.

Apple shares close above $600 for first time since 2012

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AAPLstock600

 

AAPL shares have been extremely undervalued for years, according to CEO Tim Cook, but it looks like Wall Street is starting to warm on Apple as the share price crested above $600 this afternoon for the first time since 2012.

After hitting an all-time high of $702.10 in September 2012, Apple’s stock has failed to regain its old luster despite record iPhone sales and earnings. Tim Cook announced last month that the stock would be split 7-to-1 in June, sending shares prices on a steady climb since hitting $524 per share the day after the announcement.  

Apple Has Bought Back $14 Billion Of Its Own Shares Over The Past Two Weeks

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From Tim Cook to Jony Ive,
From Tim Cook to Jony Ive,

Tim Cook has acknowledged that Apple has bought back $14 billion of its own shares over the past two weeks — reacting to an 8 percent decline in shares following the recent financial quarter results.

In an interview with the Wall Street Journal, Cook admitted that he was “surprised” by Wall Street’s reaction to Apple’s last quarter, in which the company broke records by selling 77 million iOS devices over the holiday season.

Apple’s recent share repurchase is the largest of its kind for a company of Apple’s size over a similar timespan. During the past 12 months, Apple has bought back $40 billion of its own shares — part of a plan to repurchase a total of $60 billion. In the past two weeks Cook says that Apple bought $12 billion of its shares through an “accelerated” repurchase program, and a further $2 billion on the open market. Apple plans to disclose updates to its buyback program either next month or in April.

Good News Pushes Apple Stock to Highest Close in Almost a Year

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Apple stock closed at a new 2013 high on Tuesday — rising 2.7 percent (or $15) over the course of the day to finish at $566.32.

For those keeping score, that’s the best close Apple’s stock has had since December 4, 2012, and means that the company is up by 6 percent so far this year — although still down on the $700 all time high which accompanied the iPhone 5.