Shares of Apple (AAPL) sank as low as $507.66 during Friday morning’s trading session, hitting their lowest point since early February. A report from UBS suggesting Apple’s dominant iPhone line may have peaked triggered an early morning dive, and Jefferies & Company analyst Peter Misek followed up with a troubling report suggesting Apple recently cut component orders with its Asian suppliers. UBS trimmed its 12-month price target on Apple shares to $700 from $780, and Misek cut his fourth calendar quarter margin estimates by one point to 39%.
Apple stock hits 10-month low
Published Dec 14th, 2012 12:05PM EST
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
