Have you noticed the ‘broken record syndrome’ over at Business Insider? The publication’s been running an article series under their trademark sensationalist headlines that spell doom for Apple’s stock price.
Down Goes Apple, said the headline Tuesday. Down Goes Apple Again, another one screamed Wednesday. And There Goes Apple Again!, yesterday’s headline has it. And you gotta love their latest story titled Apple Is Now Straight-Up Tanking!
So, what’s going on here? Is AAPL on a downward spiral? And what’s up with the $2,000 per share Apple meme?
Scott Forstall, who heads the team behind the software that powers iOS devices, by far Apple’s most profitable division, has recently sold 64,151 shares worth roughly $38.7 million, a new filing with the U.S. Securities and Exchange (SEC) commission has revealed.
Cook, identified as Apple’s CEO-in-waiting in Adam Lashinsky’s Inside Apple book, still holds nearly $2 million worth of shares plus retention bonuses worth over a quarter billion dollars provided he stays with Apple and the company does emerge as the world’s first trillion dollar corporation…
Apple may be poised to become the world’s first trillion dollar company thanks to the iPhone, but sustainability of the pricey handset is now being put into question. One prominent analysts warns that United States carriers such as AT&T – faced with plummeting margins at a six-year low – are now considering reducing iPhone subsidies and adopting stricter upgrade policies.
If instituted, these changes could result in a more expensive iPhone and an estimated worldwide drop in sales of 27.5 million units in the June quarter, with a revenue estimate $1 billion below consensus…
Those who sold their shares of Apple last October did not make the wisest move, but all is not lost. AAPL closed yesterday at $618.63 a share (more than a 32GB WiFi iPad, mind you) for a market cap of $577 billion. As the company’s quarterly earnings report looms, analysts are running their spreadsheets and upping targets. So, how long until Apple zooms past the $1 trillion market cap milestone?
According to one analyst, it could be sooner than you think – in less than two years – as Apple drains market cap from rivals and profits from more money being poured into tech stocks. By a growing number of credible estimates, Apple is on track to become the first public company in the world with a $1 trillion market cap.
Trading of Apple shares has been briefly halted this morning. According to Business Insider, an errant trade caused the stock to crash a whopping nine percent, hitting a low of $542.80. Trading’s been resumed and AAPL opened at $598.39. The Apple stock trades on Nasdaq under the AAPL symbol…