Apple is down 1.93% this morning, a second-straight losing day.
Today’s catalyst seems to be the news that long-time shareholder Julian Robertson dropped his entire stake in the company.
Apple had managed to piece together a micro-rally after earnings, with the stock hitting $460, up from its low point of $390.
That’s all over for now. The stock is around $435. Investors are still waiting for Apple to prove it can reinvigorate the iPhone business, and invent the next major must-have consumer electronics product.