Apple 2.0 is reporting that Apple stock dropped to US$497 in pre-market trading this morning. That's the first time that the stock has been below $500 since February 15, 2012.
On Sunday, Citigroup lowered its price target for AAPL and also downgraded the stock from Buy to Neutral. That bad news was tempered by a report from Apple showing that over 2 million iPhone 5s had been sold in mainland China in just three days.
At the time this post was being written (about 9:45 AM), the stock had recovered and was hovering in the range of $511 per share.
- Key specs
- Type Smartphone
- Operating system iOS
- Screen size 4.7 inches
- Internal memory 16 GB
- Carriers (US) AT&T
- Dimensions 5.44 x 2.64 x 0.28 in
- Weight 5.04 oz
- Released 2015-09-25