Apple Stock Price Hits Lowest Levels Since 2011, Falls Below $400

Wednesday April 17, 2013 9:59 am PDT by Jordan Golson

Apple's stock price hit new lows today, setting 52-week records and hitting the lowest points seen since late 2011. The price has traded beneath the $400 level several times this afternoon, with AAPL having not traded that low since December 23, 2011.

Today's slide follows a lower-than-expected revenue forecast for Cirrus Logic, a major supplier for chips used in the iPhone and iPad. Traders believe the lower forecast indicates weak Apple sales over the next several quarters.

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Apple's stock price traded over the $400 mark for the first time in July 2011.

Apple will announce its second quarter earnings on April 23rd. The earnings release typically occurs just after 4:30 PM Eastern Time following the close of regular stock trading, and the conference call is scheduled to follow at 5:00 PM Eastern / 2:00 PM Pacific.

Top Rated Comments

NIKKG

108 months ago

The biggest enemy of Apple is not Google but itself. Most of its profits come from iPhone but they refuse to give people different sizing options and so people like me have pre-ordered the Galaxy S4 because it has a 5" screen compared to my puny iPhones 5's 4" screen.

Why can't Apple just do a 4",4.5", and 5" screens? Give people options, small screen phones are so 2007. Also, redesign iOS, its so boring now.

Score: 55 Votes (Like | Disagree)

Resseh

108 months ago

its not all bad - it makes macrumors forums a nicer place as there used to be so many AAPL gloaters when the stock was at $700 but now very few people admit to owning the shares...

edit apart from guy above me:p

Score: 54 Votes (Like | Disagree)

AQUADock

108 months ago

Prepare yourself for the stock to go down even further if apple announces good profits.

Score: 51 Votes (Like | Disagree)

Xenomorph

108 months ago

Good thing I have all my money tied up in Bitcoins!

Score: 47 Votes (Like | Disagree)

jonAppleSeed

108 months ago

Does this mean my phone is no more good?

Score: 28 Votes (Like | Disagree)

Limboistik

108 months ago

I bought in at $650....good game.

Score: 26 Votes (Like | Disagree)

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