Would You Like a Market with Your Stock?
Ouch. Apple’s stock has has two $10-a-day drops, after an initial $5 drop, going from $191 per share to $165 in just three days–a 13% drop. The good news is, it isn’t a reaction to anything related to Apple, it’s just that tech stocks in general are falling, and when the market drops, Apple usually drops as well.
No problem, though; Apple itself is strong and has a highly promising holiday sales season ahead of it. This drop will simply give Apple a bit more room to grow, for those who might have been worried about too big a market cap. That’s the best reason that I can think of as to why Apple didn’t issue a stock split when its price got pretty high–they don’t want the stock to inflate too fast.
Still, it’s not very fun watching it drop like that!