Apple stock drops below $600 despite upcoming iPad mini launch

Apple Stock 2012

When Apple (AAPL) neglected to announce any preorder sales figures for its new iPad mini tablet earlier this week, Wall Street got nervous. Now, with the new tablet’s launch just two days away, Apple’s stock is still dropping. In pre-market trading on Wednesday as the New York Stock Exchange prepared to reopen in the aftermath of Hurricane Sandy, Apple’s stock dropped below $600, hovering in the low $597-range as of the time of this writing. Shares of Apple stock hit a record high of $705.07 just after the iPhone 5 launched, and have since plummeted more than 15%.

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