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Apple stock sinks well below the $500 barrier

Apple's stock plunged through the $500 per share barrier in trading Tuesday.
(Kinhiro Hoshino / AFP/Getty Images)
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Monday, Apple’s stock slipped below $500 per share for just the briefest of moments before climbing back above the psychologically important barrier.

But today, the stock fell straight through $500 and just kept on going. In midday trading, the stock was down $14.35, or 2.86%, to $487.40.

Update: The stock finished the day down $15.83 or 3.15% to $485.92.

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In my story on the anxiety surrounding the stock, I noted that the stakes for Apple’s earnings report on Jan. 23 seemed to be growing by the day.

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Echoing that sentiment Tuesday was a research note from Barclay’s titled “Preparing for the Most Important Conference Call in Years.”

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Like many analysts, Barclays researchers said they expect Apple’s numbers for the quarter that ended in December to come in on target. But they believe Apple will lower earnings-per-share guidance for the current quarter ending in March.

If that happens, it will be interesting to see whether investors’ faith is shaken further.

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