Apple Shaken To Its Core
Prices of Apple stock have fallen around 44 percent since September which leads to many wondering when it will all end. Although remaining highly profitable and being the envy of many corporations, Apple’s dramatic and swift decline has caused many to think that it is no longer a sure thing to invest in. Around seven months ago, Apple’s stock was valued at around $700, making it the most valuable company in the world, but by Thursday last week it suffered a two percent decrease and stocks closed at $392.05, which was the first time the stock closed below $400 since 2011 when founder Steve Jobs passed away.
Although people didn’t think this would happen to Apple, it is a common occurrence on Wall Street: what goes up, must come down. The same way how many view Apple’s decline as irrational, others point out Apple’s stock reaching over $700 and that it couldn’t have kept rising at that rapid pace forever either. As unbelievable as it may be, Apple is among the worst losers in the stock market right now since the past seven months, ranking next to J.C. Penny, viewed as the sick man of department stores.
Written by Kevin Zhang