Apple

Apple's Stock Falls, Threatens to Break $500


It seems like only yesterday that Apple’s stock was testing the $700 mark. Apple (AAPL) broke through that barrier on Sept. 18 and closed a day later at its high for the year of $702.10. Since then, it’s been mostly downhill amid worries about growth in China and renewed tablet competition. Apple took a particularly sharp drop on Friday, falling $20, or about 4 percent, as of noon on a gloomy report from Steven Milunovich, a UBS AG analyst, about prospects for the iPhone 5 and iPad. (Update: Apple closed Friday down $19.90, to $509.79.)

Daniel_beucke
Beucke is the News Director at BusinessWeek.com

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