Apple’s stock is down and its products are getting
discounted at Walmart. Suddenly, the company is suffering on Main Street and
Wall Street, the Daily Beast reports.
The only thing more amazing than Apple’s unparalleled
ability to get customers to pay huge premiums for its laptops, phones, and
tablets is its ability to get investors to pay huge premiums for its stock.
Between September, 2009 and September of this year, the stock roughly
quadrupled in value, hitting a high of $702.10 on September 19. Everyone was on
the Apple bandwagon, with roughly one out of five hedge funds reporting Apple
as one of the top ten most highly held stocks. But since September, Apple’s stock
has tumbled 26 percent, closing at $518.33 on Monday.
So why the big decline? Maybe Wall Street is starting to see
Apple’s stock as more normal because consumers are seeing its products that
way. Put another way. If Apple products are slowly starting to resemble
commodities more than premium products, maybe the stock is simply following
suit….
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