Last year it seemed like there was no end in sight for the rise of Apple’s stock price. Then things started to slip in October thanks to Apple Maps and the management shakeup, and it’s been all downhill from there.
Earlier this morning Apple shares were trading below $400 for the first time in over 16 months, as the stock has continued to slide from its high point of over $700 per share that it enjoyed just last year.
Right now the stock is trading at 403.66 while NASDAQ 1.11 percent overall. Disappointing revenue forecasts from Apple suppliers such as Cirrus Logic could be to blame for the slide as investors begin to worry about Apple’s upcoming earnings report.
Apple’s next quarterly results are scheduled to be released next Tuesday. Weak iPad demand coupled with rumors that Apple is facing production issues with the iPad and iPhone will only continue to hurt the stock as investors fear Apple’s days of dominance are slowly winding down.
Source: Reuters
Buster Hein is a freelance writer who lives in Phoenix, Arizona. Twitter: @bst3r.
