Apple Stock slips after report of waning iPhone Sales
After an unconfirmed report of the iPhones sales dropping in December, Apple investors seem to be dropping out of the bite. Investors briefly drove Apple stock below $500 on Monday, continuing a slide from a peak of more than $700 in September.
This continued downfall has increased the pressure on the pending January 23rd Earnings call that would lead to immediate reforms for the company. If Apple wildly exceeds expectations, as it did last year, investors hope the Apple stock will repeat the remarkable run that peaked in September.
But if the earnings disappoint, or if Apple execs reduce their sales projections for the coming quarter, there’s no telling how far Apple stock that’s already down 28.5% in the last three months could plummet. Apple’s stock closed Monday at $501.75, down $18.55, or 3.57%.
Like many Apple rumors and stories, however, this latest development was open to different interpretations. Many analysts and independent observers suggested indications that Apple had cut its outlook for the iPhone 5 by as much as half seemed extreme, given recent reports of strong smartphone sales by Verizon Wireless and AT&T.
Another view could have been the early launch of a revised iPhone, that possibly has a different size or type of display. A newer iPhone, a newer iPad and a retina iPad mini are all the correct tools that Apple needs to drive stock back up to the wonderful $700 mark.