Apple shares take another tumble, biggest drop in four years

Apple shares take another tumble, biggest drop in four yearsThings seemed entirely peachy for Apple just a few months ago, with shares hitting a record high in September ahead of the iPhone 5 launch, and a new iPad launch record set by the iPad 4 and iPad mini in November.

Conversely, in the share world, Apple is taking a bit of a punching at the moment, and things went from bad to worse this week.

Yep, we have a new record for Apple, and not the good kind. Yesterday, Apple achieved its biggest single-day loss since 2008, sliding 6.4% and closing $538.7923.

As we’ve heard before, analysts are citing increasingly stiff competition from Android tablets, and reduced profits on the iPhone.

Earlier this week, we heard that consumers are increasingly happy to settle for older iPhones in order to save a few bucks.

With regards to the share punching, Hudson Square Research analyst Daniel Ernst mused: "It makes no sense. There are lines around the block for their products all around the world. No other company has that."

Meanwhile, Performance Trust Capital Partners guy Brian Battle warns: "This is not going to be a short-term trend. This is a management test, of how well they can perform without Steve Jobs.”

via: ITPro

Read more about: Apple iPad 4Apple iPhone 5iOSApple iPad 2Apple iPad 3Apple iPad miniApple iPhone 4Apple iPhone 4S

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3 comments

JanSt / MOD  Dec. 6, 2012 at 19:13

http://allthingsd.com/files/2011/10/lolcat-disappoint.png

http://allthingsd.com/files/2012/02/lolcat-perplexed-380x285.png

Pondlife  Dec. 6, 2012 at 22:07

Is that in Apple or Lewis?
Still higher share price than previous years isn't it?

CTPAHHIK  Dec. 7, 2012 at 07:50

"It makes no sense. There are lines around the block for their products all around the world. No other company has that."

This due to supply management failure. Announce that Galaxy S4 will be on sale for single day followed by 4 weeks back order period and you would get same line. I bet you will get a line right now for Nexus 4 as soon it arrives to a retailer.

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