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Apple down more than market on mainly economic fears

 Oct 01, 2008 10:50 PM UTC
Return Risk
-56.69% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
AAPL n/a

Graphic_arrow1 Via BloggingStocks:  

Filed under: Analyst reports, Apple Inc (AAPL), Recession

While the country and market has been slowly bouncing back from Monday's surprising defeat of the Wall Street bailout package, Apple Inc. (NASDAQ: AAPL) is still down 15% for the week. On Monday, Apple lost 18%, about double what the Nasdaq did. It came back a little Tuesday, then lost 4% again today. Since its August high of $180, it's lost lost 40% of its value.

As Brian White pointed out just last week, the stock's decline doesn't reflect its rising sales. Apple is getting a bigger share of the computer market.

The news on Apple Monday was that two analysts downgraded Apple due to worries that consumers -- now possibly going broke -- would not want to buy more Apple stuff. But Fortune's Philip Elmer DeWitt pointed out that one of the analysts (the one from Morgan Stanley) was one of the farthest off in pred...




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