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Apple’s stock continued its downward slide, falling as low as $483.80 in early morning trading on Tuesday. The company reached its all-time high of $705.07 on September 21, the day it launched the iPhone 5. It’s been almost a year since Apple’s stock last sold for less than $500 on February 16, 2012.
The latest rumors to plague the Cupertino company suggest it was forced to cut component orders due to lower-than-expected demand for the iPhone 5. This demand argument is up for debate, with some analysts, like Maynard Um of Wells Fargo, saying the idea of a component cut is “not news.”
Apple is slated to announce its quarterly earnings on January 23. Will it be a big day for the Cupertino company or another rung in its climb down the ladder?
[Via Mercury News]
About The Author
Kelly Hodgkins
Kelly spent the last four years covering mobile technology at places like BGR, Gizmodo and The Unofficial Apple Weblog. Before writing, she spent a few years working with and teaching others how to use Adobe Flash and Macromedia Director. Even earlier than that, she spent several years as a Ph.D student in Microbiology. When she's not writing, she can be found fishing the lakes and hiking the mountains of Western Maine with her husband and tribe of children. You can follow her on Twitter @kellyhodgkins.
