Apple's stock looks down, loses balance
Well, it was bound to happen: Apple's stock, after years of joyously ascending in a fashion worthy of the New Testament, has finally reacquainted itself with the wonders of gravity and the venerable cliché, "What goes up must come down."
The share price fell over 5% today, closing at $67.30 -- a two-month low for the company whose stock was kicked out of Willy Wonka's factory for sneaking a sip -- or, as the situation would suggest, a chug -- of the infamous Fizzy Lifting Drink. Sources cite the recent surge of iPod/iTunes-related lawsuits, a fear that Intel Mac adoption would be slower than expected, and the belief that Apple's market value was just a teensy bit inflated as the reasons for the drop. But some analysts -- like our favorite Gene Munster -- say Wall Street's worries are unfounded, and believe Apple will keep its years-long momentum on track.
Personally, I just see this as an excellent buying opportunity. Apple will only sell more Macs and more iPods, despite what they say about expectations -- and aiming low but hitting high is always better than aiming high and shooting your foot.
[via MacObserver]
