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Apple stock drops into $400-range despite explosive iPhone 5 debut in China

Zach Epstein
December 17th, 2012 at 8:05 AM
Apple Stock Drop

Apple (AAPL) on Sunday evening announced that it sold more than 2 million iPhone 5 handsets during the phone’s opening weekend in China. The news put an end to speculation that China was giving Apple’s latest smartphone a chilly reception, however it wasn’t enough to put an end to investor concerns amid a new round of price target cuts. For the first time since February, shares of Apple stock fell into the $400-range in pre-market trading on Monday on concerns from a number of institutions that iPhone and iPad demand will not be as strong as they initially thought. Apple shares were down 2.12% from Friday’s close to $499.00 at the time of this writing.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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