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AAPL: 0.00 ( . )


Extremely Scary Trading Day for Apple (AAPL) Shareholders and Investors

On September 29th, Apple (Nasdaq: AAPL) shares saw the sharpest sell-off the company has seen in years. After losing nearly $20 billion in market cap, the shares continue to get slammed, hovering in the $80’s all day today before closing up $1.07 (1.10%) per share.


For those not interested in following the nuances of Apple’s day to day trading. This article may not relate to your interest in the company.

Recovering from the fake Steve Jobs heart attack rumors on Friday, Apple investors were greeted with a tumbling stock when the markets opened this morning. Aside from today being extremely nerve wrecking for many shareholders and investors, not since March 2007 has Apple been trading in the $80’s. Confidence in the Cupertino tech firm isn’t very great on Wall Street these days. Regardless of how many analysts will say that Steve Jobs’ health doesn’t matter, or how many times Apple says he’s perfectly healthy, the stock hasn’t fully recovered since unfounded rumors were being spread that Jobs’ cancer had returned. Even after setting the record straight, and blaming unnamed hedge fudge managers for the false rumors, many analysts and Wall Street pundits are hanging onto Steve’s physical appearance as a sign of tumultuous times to come.

Most of the time when Apple sees a major dip in their stock price, in can be relayed to confounded beliefs in a core subject regarding their revenue, products, or lately their CEO’s health. But the same confounding mentality can be applied towards a positive belief in the companies future. Lately, Wall Street has defended Apple’s share price calling the recent 18% sell-off unfounded, which resulted in Apple losing nearly $20 billion in market cap setting it up for dips that reach into the $80’s.

The stock managed to rally up at the end of the today, in what turned out to be a very intense “roller-coaster” afternoon. For the stock to rally back and close at $98.14 per share (+$1.07), after dipping as low as $87.67 around 10:25am, has regained confidence with many investors and shareholders. If only temporary, the stock closing high today reconfirms Apple’s position and the companies ability to perform in times of uncertainty.

Disclosure: I hold a moderate stake in Apple (Nasdaq: AAPL) shares.

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