Apple is only down 0.7% today.
It’s been down as much as 3% during the day’s trading session.
Since November 28, the stock is down 8.5%. It hasn’t been this low since October.
There is no clear reason for Apple’s shares to be falling.
Apple’s stock had been hitting all-time highs. The last time Apple’s shares soared to new highs in 2012, they ended up tanking to new lows in 2013. When Apple crashed in 2013, analysts were cutting profit estimates, and Apple’s net income fell on a year-over-year basis.
This time we haven’t seen anything from sell-side analysts to suggest Apple’s business is slowing down. Earnings estimates have been boosted lately. So, it’s unclear what’s happening.
It could just be that some traders have made a bunch of money from Apple’s 36% jump this year, and they have decided to sell shares and lock in profits.