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Apple stock drops into $400-range despite explosive iPhone 5 debut in China


Apple (AAPL) on Sunday evening announced that it sold more than 2 million iPhone 5 handsets during the phone’s opening weekend in China. The news put an end to speculation that China was giving Apple’s latest smartphone a chilly reception, however it wasn’t enough to put an end to investor concerns amid a new round of price target cuts. For the first time since February, shares of Apple stock fell into the $400-range in pre-market trading on Monday on concerns from a number of institutions that iPhone and iPad demand will not be as strong as they initially thought. Apple shares were down 2.12% from Friday’s close to $499.00 at the time of this writing.

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.


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