Analyst expects Apple stock to drop to $270
Apple's stock price has had quite an interesting year. After hitting a record high of over $700 per share in September, the price has been hovering around the $500 mark for several weeks. But as Businessweek reports, that figure just isn't low enough for analyst Edward Zabitsky, who is banking on shares to dive as low as $270.
Zabitsky cites several factors in his argument that Apple's stock is headed for a fall, including competition from the likes of Microsoft and Samsung, and what he sees as unrest in Apple's management. He predicts that the stock will reach the $270 mark within 12 months. Apple's stock price hasn't dipped as low as $270 since September 2010, so a dip that low within a year's time would certainly be a dramatic stumble.
