Is Apple’s declining stock cause for concern?
Apple’s shares have been on the decline as of late, causing strong reactions from investors and pundits.
As of this writing, Apple’s shares are trading at $314.65, down $5.61 on the day and more than $50 from the stock’s 52-week high of $364.90. The company’s stock decline has come at a time when the Dow Jones Industrial Average has also been slumping. In April, the Dow was above 12,810. As of this writing, it’s at 12,072.25.
Earlier today, financial site SeekingAlpha dug into Apple’s declining shares, saying that the company doesn’t appear to be as insulated from industry- or market-wide factors as it was not long ago.
“In the past, Apple has been able to rise above and show strength even when the market and other tech stocks were dropping,” SeekingAlpha contributor Roguemont wrote. “This no longer appears to be the case.”
The contributor, who is an independent trader and investor, argued that Apple’s decline might also be due to Steve Jobs’ health issues. The Apple CEO is currently on a medical leave of absence for an indefinite amount of time, and so far, Apple has not commented on when he might be coming back—if at all.
Translation - time to buy Apple stock…