Apple Inc. (AAPL) just can't seem to catch a break in recent days. Investor sentiment has increasingly grown sour in the wake of the iPhone 5 launch and the subsequent Maps application fiasco.
While shares of Apple Inc. (AAPL) had reached an all time high of $705 per share earlier in the year, the price has continued to drop in the last few weeks, leading to its closing at $509.59 today. Some analysts still hold positive feelings towards the company, expressing the rumors of the upcoming Apple TV launch, and the possibility of an iPad 5 as early as next March. However, it seems that much of Wall Street's population may be siding with Jeff Gundlach, who believes Apple will fall to as low as $425 per share.
The company once held the top spot as the world's most valuable company, but it seems that value is slipping away a little at a time these days. I personally believe Apple shares will rally in the coming quarters. Once the government reaches a decision on how to handle the fiscal cliff, tech stocks should have a brighter future ahead. Until that time, uncertainty and dissatisfaction seem to be the forces driving Apple's shares ever downward.
This blog published by Sites N Syllables