How Bad is Apple’s Latest Fall?
The company’s stock has been hit with a downward trend over the last several months, having dropped nearly 30 percent from September 19 when it hit an all-time high of $702.10. Apple has also missed earnings estimates in three of the past five calendar quarters, including the past two. It reports results for its fiscal first quarter on January 23.
“We’re getting close to saturation,” James Cordwell, an analyst at Atlantic Equities Service, told Bloomberg. “The real growth is going to come from emerging markets, and Apple’s share in emerging markets is much lower than it is in other markets at the moment due to such high prices.” Cordwell rates Apple shares Overweight and doesn’t own any.
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