Apple Is Tanking Again — Market Cap Falls Below $500 Billion


Photo: Yahoo Finance

This morning Katy Huberty at Morgan Stanley said she thinks Apple is going to sell more iPhones and iPad Minis than analysts expect. She bases this prediction on conversations with Asian supply chain folks.How is the market reacting to this news? By crushing the stock once again.

It’s down 1.84 per cent to $527. The stock has gone as low as $525 this morning. The market cap is now under $500 billion.

Apple’s stock has been in a serious swoon since it went over $700 at the end of September.

Previously we thought it was getting crushed because investors thought Apple would miss on iPhone sales. More and more analyst chatter suggests that might not happen. Then we thought it might be because Apple lost Scott Forstall. He’s important, but he’s not this important. There’s also talk of investors selling before taxes change. This also seems unlikely, but maybe it’s possible?

We’re a little stumped about what’s going on here. Any thoughts out there?

See Also: Why We Think Apple’s Getting Destroyed

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