Today, Apple shares fell 6.43 percent to 538.79, which represents a $34.8 billion market cap write-off. Analysts have been looking for reasons for the drop all day long without finding a single one that stands out. They forgot about the long-term perspective.
During the past 12 months, Apple shares have been up 42.7 percent, mostly due to two new products, the iPhone 5 and the iPad mini. With a new CEO and no new product in sight, volatility kicks in. The smallest downturn leads to a huge stock drop. Reporting about stock variations often means focusing on short-term activities.
Apple is no exception to this rule, and a few things can explain what happened today. Reuters blames an IDC tablet report, Bloomberg blames China Mobile, Fortune even blames a DigiTimes article — an outlet known for its inaccurate reports.
The truth is closer to a combination of all of those reasons. Yet, there is nothing groundbreaking to report. So why is there such a downturn? It comes down to….Read more at TechCrunch
