AAPL shares have dropped below $400 in early morning trading on Monday. The DOW and NASDAQ both opened to big losses as they dropped 220 points and 53 points.
The share price drop may also be due in part to a report this morning that Apple has significantly reduced iPhone orders for the remainder of 2013. AAPL shares dropped below $400 in April for the first time in over 16 months.
Apple’s stock has continued to perform poorly over the past nine months despite Apple’s new dividend program that will see investors receiving a payback of $100 billion from Apple by the end of 2015.
Tim Cook’s stock compensation was recently updated – per Cook’s request – so that it focuses on Apple’s actual performance. If AAPL doesn’t perform well while Tim Cook is CEO he could stand to lose millions from his stock options that are currently worth $413 million.
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
3 responses to “Apple Shares Drop Below 400, As DOW Dives 220 Points”
Tim Cook shot himself in the foot by tying his salary to Apple’s stock performance. He’s definitely going to lose out on a lot of salary because him and his management team are totally clueless on how to bring back share value to the company. There are so many things they can do with the money they have but they’ll continue to sit on that mountain of cash. I’m sure the economy has a big part in this Apple collapse, but for some reason both Google and Amazon have figured a way to protect shareholders over the 52 weeks. Only Apple collapsed in a big way.
Some people talk about Apple’s overall profitability, but in the end its Apple shareholders who are the biggest losers in the tech industry for 2013. Things don’t look much better for the end of the year, either. Loss of iPhone sales is basically a death blow for Apple’s revenue. Apple better start looking for better revenue streams before the stock totally collapses. Apple should at least attempt at a search engine business to go up against Google. If the company is going to lose money, then so be it. At least it will go down fighting.
after ios7 crap-look and lack of inovations? It will go down further
This is classic FUD reporting about Apple’s stock. The whole market is down, so no shock that includes Apple. And those reports are baseless rumors just like the past nine months. This is the nonsense Tim was talking about back in January. Folks need to stop listening to this crap and believing some ‘unnamed source’ is talking truth