It’s Just A Flesh Wound: Apple Stocks Down For Fifth Consecutive Day

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Apple stock fell 4.1% on Monday, continuing a five day skid and a trend that has drained $50 billion in market capital from the company and dropped share price from a high of $643 on April 10 to its current price of $580.

Apple has been flying high lately, weathering dual storms of Jobs-Cook succession and, most recently, Mike Daisey’s Foxconn fabrications. The stock is up in early trading and many analysts are holding firm to an expected $700 target, calling this a “softening” and not a correction.

Even investors are taking the loss in stride. One user, mauser96, wrote on the MotleyFool boards:

Nothing has changed about the fundamentals. The price got too high too quick, it got too easy to make money buying AAPL. Mr Market always steps in when this happens. Of course when a stock has been going up, point declines are less meaningful. There were quite a few of these events in 2011, each of which marked a decent time to buy for investors with a time horizon longer than a few weeks.


The next big product push should happen during the summer with the potential for an iPhone 5 announcement and/or something more concrete in the TV space. That said, analysts expect the company to sell 12 million iPads this quarter and 30 million iPhones.