Apple Stock Price Slides to a 6 Month Low
When you're hot, you're hot, and when you're cold, well, things are still pretty good if you're Apple. Ahead of the iPhone 5 launch, the Cupertino company saw its share price hit an all-time high a couple months ago, reaching more than $705. Since then, Apple's share price has been steadily declining. Now that the dust has settled from the iPhone 5 launch and iPad mini hype, Apple's share price has started to come down, closing at $526.59 entering the weekend, the lowest it's been in the past six months.
In pre-market trading ahead of Monday morning's bell, Apple's share price is up slightly to $527.68, still well below its recent high. That's a big disparity between the two, but to put it into perspective, Apple's market capitalization now sits at just shy of half a trillion dollars ($496.38 billion). There are far worse situations to be in (just ask AMD, which is trading at $1.86 and is worth $1.23 billion).
Perspective aside, Apple's stock is down about 25 percent from September's high, and that means something. Exactly what it means is up for debate. Some analysts chalk it up to "gravity," noting that Apple's stock price was never truly worth $705 in the first place. Others point to the so-called fiscal cliff of upcoming tax hikes and spending cuts. The tax rate on dividends and capital gains is currently 15 percent, but that's set to expire at the end of the year. Capital gains taxes could go back up to 35 percent.
Whatever the reason, Apple's still in good shape. It is, after all, still the most valuable company in terms of market capitalization.
In pre-market trading ahead of Monday morning's bell, Apple's share price is up slightly to $527.68, still well below its recent high. That's a big disparity between the two, but to put it into perspective, Apple's market capitalization now sits at just shy of half a trillion dollars ($496.38 billion). There are far worse situations to be in (just ask AMD, which is trading at $1.86 and is worth $1.23 billion).
Perspective aside, Apple's stock is down about 25 percent from September's high, and that means something. Exactly what it means is up for debate. Some analysts chalk it up to "gravity," noting that Apple's stock price was never truly worth $705 in the first place. Others point to the so-called fiscal cliff of upcoming tax hikes and spending cuts. The tax rate on dividends and capital gains is currently 15 percent, but that's set to expire at the end of the year. Capital gains taxes could go back up to 35 percent.
Whatever the reason, Apple's still in good shape. It is, after all, still the most valuable company in terms of market capitalization.
