Apple stock sinks well below the $500 barrier
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.
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.”
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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