12 Hot Apple Stories Pushing the Stock Down 2.7% This Week
Here’s your Cheat Sheet to all the big stories Apple investors must know from this week after watching shares fall 2.7% from Monday’s opening price:
After following a predominantly downward trend for much of the past six months, Apple’s (NASDAQ:AAPL) shares made an important technical breakthrough last Friday; they closed above the stock’s 50-day simple moving average for the first time since October 4, and that move could have positive long term implications. That Apple is finally trading above this benchmark level gives analysts a shard of evidence that shares may have finally bottomed out after their six-month decline, which began after the stock hit its all-time intraday high of $705.07 on September 21.
The gains that pushed Apple’s stock above its moving average helped shares post gains for the last-five day period and carried them up to close at $1.67, or 0.36 percent, at $463.58. Here’s a cheat sheet to today’s top Apple stories:
Why Most Analysts Are Wrong About Apple
It is not often that you read an analysis of Apple that claims that almost all analyses of Apple are flat-out wrong. That is exactly what analyst Michael Hiltzik of the Los Angeles Times asserts in his analysis of what is wrong with all the analyses about Apple though. As Hiltzik points out, when Apple’s stock rocketed past $700 in September last year, many analysts promulgated a story that Apple was an unbeatable winner that “would eventually grow to consume the entire Earth and everything on it.”
Then when the stock plunged down to the mid-$400 range, many analysts began screaming dire warnings of Apple’s imminent demise. Now it seems the prevailing story among most analysts is that Apple has lost its creative edge and will soon be overtaken by rivals such as Samsung (SSNLF.PK)… (Read more.)