Apple just broke $100 per share for the first time since August.
On Wednesday shares of Apple were down about 2.5% and trading near $100 for most of the day but just pipped below that level briefly near 2:50 p.m. ET.
Over the last six months the stock is off about 20%.
Shares of the world’s largest company have been sliding in recent months as both the stock market languishes along and analysts have started beating the drums on the potential for iPhone sales to fall when compared to the prior year for the first time ever.
A report from Nikkei on Tuesday said that Apple is expected to cut iPhone 6S and 6S Plus production by 30% in the first quarter of 2016, with the publication citing excess inventories of the models.
In a post on Business Insider last week, Jay Yarow said that 2016 is going to be a tough year for Apple, which, when the dust settled on 2015, sort had what many called a “meh” year, all things considered.
The iPhone is the iPhone — a top-selling, super-popular device seemingly anybody can use and that almost everybody wants.
But the Apple Watch was whatever, iPad sales continue to drift along, and the company’s massive cash hoarde continues to climb while there hasn’t been a major blockbuster product from the company in what seems like forever (it’s been, in reality, like two years).