Could Apple Dip Below $500?
All things Apple (NASDAQ:AAPL) have been helter-skelter recently, with the stocks mimicking a roller-coaster, the smartphone tides turning, record sales in China, and internal reorganization of some key staff positions. Whether it’s all for the best or the worst could be decided in the next few months.
Apple’s share price has dived from over $700 — with some fingers crossed for it to reach $1000 — down to almost $500. The stock value is skating that edge, though it’s up slightly Monday afternoon from its previous close. Despite the frightening drop, Apple stock still appears attractive, as the company has cash, a low multiple, and now a value share price.
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The smartphone war is one front that seems to have caught up to Apple and diminished its shares, as other powerful devices have managed to snatch away the glory that Apple had once held all to itself. Cheaper smartphones are also undercutting the expensive, premium device manufacturer. Additionally, Apple just launched new products, and may not have anything new to wow consumers for a long period of time — a fact that may have worried investors.
Amid the chaos, Apple has removed and repositioned some of its key team members in a move that could increase collaboration throughout the company. As innovation will be a key to staying ahead in the ever advancing technology sphere, Apple’s collaboration may be vital to gaining back the footing it has lost.
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