Monday, 12 November 2012

Apple's share price is 20% lower than its peak

"Apple’s shares have fallen more than 20 per cent from their September peak, the stock’s biggest correction since the share market crisis in late 2008, underlining a change in investor sentiment around the world’s most valuable company.
Since the launch of the iPhone 5, investors have expressed concerns about Apple’s ability to manufacture enough new products to meet customer demand, recent management changes and slower earnings growth.
Yet as Wall Street sentiment has turned more bearish, many of Apple’s supporters in the technology industry have championed the iPad mini as its best new product in years. That marks a reversal of September’s dichotomy, when investors’ enthusiasm about the iPhone 5 stood in contrast to concern in Silicon Valley that the smartphone was merely an incremental improvement over past models.
Wednesday’s decline of 3.8 per cent saw Apple close at $558, a five-month low. The stock now trades at 21 per cent below September’s all-time high of $705.07 and has lost $138bn in market value since then."

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