Apple Stock Update
NASDAQ:AAPL – Apple Stock Price Down Nearly 3% For Week
Last Friday, exactly one week ago today, Apple shares (NASDAQ:AAPL) hit a new all time high. It was 10:00 am EST and Apple’s stock price hit $271.88 on the NASDAQ.
Here’s a screen shot of that moment:
Apple stock price drops nearly 3% since last Friday
That was a great day in the history of Apple stock – an all time high of $271.88 is pretty darn good!
However, since last Friday, Apple shares are down approximately 3%.
Here’s the weekly graph of Apple shares price movement since last Friday’s all time record high:
What does this mean for Apple?
Apple shares, at the time of this writing, are currently trading at $262.98, -5.74 (-2.14%) for today.
So what does this downward movement mean for Apple? In my honest opinion, it means absolutely nothing at all.
Most stock analysts aren’t changing their call whatsoever on the stock price, and like Apple stock for the short term so long as the price stays above $255.
Upcoming Events for Apple
Some of the upcoming events might get Apple shares moving back into positive territory again.
Today, Apple launched the iPad 3G + Wi-Fi. The iPad 3G will be delivered today to customers who pre-ordered the device, and in stores today after 5pm for general public purchase.
On June 7th, Apple kicks off their Worldwide Developers Conference (WWDC) that will held at Moscone West in San Francisco. The WWDC runs from June 7th – 11th. It is highly anticipated that Apple will announce iPhone 4G - the next generation of the iPhone – at the WWDC10 conference.
It is also predicted that Apple will expand the iPhone market base beyond just AT&T here in the United States. The next major carriers that Apple may expand to with the iPhone are Verizon, T-Mobile, and Sprint.
All of these upcoming events for Apple could help the shares start moving into positive gains next week.