Apple Recap: New Low, Throttled Victory, Avoiding Embarrassment

Apple (NASDAQ:AAPL) fell 2.48 percent on Friday to close at $430.47, touching a new 52-week low in the process. Here are the top stories that moved the stock on the day:

Apple’s New Low

There is still no indication how bad things will get for Apple before they start getting better. The selling pressure that has refused to leave the stock’s side over the last few months was still going strong on Friday, and it pushed the company to a new notable low. In mid-morning trading, Apple briefly touched $431.89 — the stock’s lowest point since January 24, 2012, when it closed at $420.50 in anticipation of the company’s fiscal first-quarter earnings report. 

Apple shares have dropped more than 19 percent over the past 52 weeks, while the S&P 500 index has gained 10.9 percent in the same period. The stock has fallen more than 37 percent since closing at a record high of $702.10 in September as of the close of trading on Thursday. Worries that sales of the company’s bestseller, the iPhone, are falling, as well as concerns about possibly dropping gross margins, have taken a toll… (Read more)