Apple and suppliers suffer a bruising day on stock market

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money
AAPL is having a tough time right now. At least comparatively.
Photo illustration: Ste Smith/Cult of Mac

Apple stock took another plunge yesterday, finishing down 4.4 percent. The reason for the fall is continuing concerns about the iPhone, which have caused numerous analysts to downgrade their price targets for AAPL.

It’s not just Apple that’s being affected, either. The company’s suppliers have also been hit by fears about the future of iPhone sales. Multiple suppliers associated with Apple have seen their stock prices decline by up to 5 percent as a result.

Apple stock falls after Trump threatens iPhone tariffs

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Big pile of cash underneath an Apple logo.
Apple has experienced a run of bad luck lately.
Photo: Ste Smith/Cult of Mac

Apple stock slid 1.9 percent in pre-market trading today, after President Donald Trump laid out plans for new tariffs to be placed on the iPhone.

Overall, AAPL is trading down 20 percent this month. This latest blow comes after six weeks of declines for Apple, which became the first publicly traded U.S. company to pass a $1 trillion valuation earlier this year.

Shark Tank investor bites into Apple over lack of transparency

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Kevin O'Leary
It will take a lot for "Mr. Wonderful" to buy Apple stock again.
Screen shot: CNBC

Entrepreneur and Shark Tank investor Kevin O’Leary said it “took seconds” to sell off his Apple stock after hearing company executives announce the tech company would no longer disclose units sold.

The self-named “Mr. Wonderful” said he was listening in on Apple’s Q4 earnings call on Nov. 1 and was shocked as CEO Tim Cook described unit sales like a shopping cart. The items in the cart aren’t as important as the total bill of sale, Cook said.

Today in Apple history: Apple stock smashes through $700 barrier

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bull Wall Street
Like a bull in an... Apple store?
Photo: Sam Valadi/Flickr CC

September 17: Today in Apple history: Apple stock smashes through $700 a share September 17, 2012: On the back of record iPhone 5 preorders of 2 million in 24 hours, Apple’s stock price hits a new all-time high. For the first time in history, AAPL breaks the $700 mark in after-hours trading. Passing the milestone cements Cupertino’s place as the world’s most valuable publicly traded company.

Amazingly, the new record is $270 a share higher than Apple at the start of the year. The stock rose 65 percent in just nine months.

Today in Apple history: Steve Jobs gets embroiled in stock-backdating scandal

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It took 20 pounds of personal computing artifacts to form the face of Steve Jobs.
Steve Jobs' stock demands changed some people's view of the tech innovator.
Photo: Jason Mercier

August 29: Today in Apple history: Steve Jobs gets embroiled in Apple stock-backdating scandal August 29, 2001: During a meeting, the Apple board awards Steve Jobs new stock options that will become part of a stock-backdating scandal several years later.

When the matter makes court, Apple’s former general counsel pays $2.2 million to settle charges that she backdated stock options for Jobs, herself and others — and created fake paperwork to hide this fact.

Apple shares gain $55 billion after glowing quarterly report

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money
Apple share price increased more than a dollar or two following a very strong quarterly earnings report.
Photo: Ste Smith/Cult of Mac

Investors rushed to buy Apple stock today, pushing the share price up almost 6 percent. That added a whopping $55 billion to the company’s market capitalization.

Apple is still a bit short of the much-hyped $1 trillion valuation, but moved noticeably closer today.

Amazon may beat Apple to become first $1 trillion company

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$1 trillion value
Apple is heading toward a $1 trillion market cap. But could Amazon get there first?
Photo: Pierre Marcel/Flickr CC

Apple’s market value will eventually top $1 trillion, but Amazon is evolving more and more as if it will get there first.

The gap has rapidly narrowed between the two company’s market values. Apple, always believed to be the first company to reach $1 trillion started out the year with stock valued 50 percent higher than Amazon’s.

That gap is now just 10 percent.

Bill Gates admits ‘Apple’s an amazing company’

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Bill Gates praises Apple
Bill Gates, who once headed Apple's arch rival, now has nothing but positive things to say about the company.
Screencap: CNBC

The co-founder of Microsoft joined the chorus of voices speaking positively about Apple today. Bill Gates’ relationship with Apple goes back to the very dawn of the company, and he and Steve Jobs were the best of frenemies.

Now that he’s a philanthropist rather the CEO of Microsoft he can speak openly about a former rival.