Wall Street seems to have turned viciously on its one-time favorite ‘Fruit Company’. Apple shares have declined 2.7 percent on April 19, bringing the damage done since late September 2012 to impressive 44 percent. Even though the company is enjoying some robust sales and international expansion, the share price is declining. Investors and analysts raise concerns about when the decline is going to end, and at what point will it stop. Even in some slowdown, Apple is incredibly profitable, nevertheless.
The decline has been too rapid and brutal for investors to not change their outlooks for Apple’s future. It seems that Apple’s success no longer looks like a sure thing. Apple share price forecast is no longer as bright, as it used to be. Some seven months ago the share price reached the record high of $700 a share, marking the historical achievement for the ‘fruit company’. By April 18 the stock sank as low as to $392.05, marking the first time it closed under $400 since November 2011. Apple has found itself among the stock market’s biggest losers together with J. C. Penney Company, the chain of American department stores.
One of the possible reasons behind the fall is the news about possible fault in audio chips at one of Apple’s hardware suppliers. That prompted an expectation of a slump in iPhone sales.
Even with share price record low, Apple is much stronger and richer than it was some time ago. The company is expanding its global reach, selling more iPhones and iPads than ever.