Apple Stock Nosedives!Thu, Nov 15, 2012 - 5:12 PM
Apple’s meteoric rise over the past few years appears to finally be over. After more than a year after the death of Steve Jobs and some iffy recent product launches, the bubble sustaining Apple’s reality distortion field – and rising stock value – appears to have burst.
The upshot is that Apple’s stock is tumbling downhill. Fast. Nearly every mutual and hedge fund has invested in Apple during its rise and rise, but they are now pulling out in droves as the stock goes through a spectacular decline to a six month low Thursday, as funds rushed to extract profits before it was too late.
Shares have fallen a large 25% since the iPhone 5 was launched in mid-September. With so many faults, such as the awful purple-tinged pictures that we reported on and dodgy maps, the iPhone 5 is a flawed product and not really one for loyal Apple fans to aspire to. Add to this the recent introduction of the warmed-over revision of the Retina iPad launched so soon after the previous version and simultaneously with the unexciting iPad mini and it’s not hard to see why the bubble has burst. It’s likely not even Steve Jobs could have prevented this decline under these circumstances. Well, probably not.
Apple was the classic case of no more incremental buyers of the stock,” said Enis Taner of RiskReversal.com. “No matter how bullish a story, you need new buyers of the stock each and every day, or it will go down. Simply put: Apple has run out of them.”