Apple Shares Slide to Five-Month Low

Perhaps as the result of a momentary sense of panic following Foxconn's reiteration that those newfangled iPhone 5 models are a bear to build, investors grew slightly skittish yesterday and sent Apple's share price down nearly 4 percent by the end of the trading day. Apple stock is now the lowest it's been in five months.

"It's not easy to make the iPhones. We are falling short of meeting the huge demand," Foxconn Chairman Terry Gou recently stated.

Apple Store

That's not the only reason Apple's stock is getting battered. It's down over 20 percent from a three-month high of more than $700 per share, the price it was trading at in mid-September. According to Business Insider, one theory is that the President of the United States might be (indirectly) to blame. Some analysts say investors are skittish because they fear capital gain taxes will increase during Barack Obama's second term.

Whatever the reason, it's not as though Apple stock has tanked; it's still trading at $558 per share, giving the company a market valuation of almost $525 billion. With Apple having just launched the iPad mini and the holiday shopping season getting ready to kick into full gear, it's conceivable that Apple's share price will shoot up before the end of the year. If that's the case, now would be a good time to invest.
Tags:  Apple, Business, Stock