Apple Shares Drop Below $100 Amid Wider Stock Market Downturn [Updated]

Apple shares dipped below $100 in pre-market trading today amid a wider Dow Jones and stock market downturn, with AAPL fluctuating around the $98-$100 mark prior to the Nasdaq and New York Stock Exchange opening bell at 9:30 AM Eastern. Apple shares last dropped below $100 in October 2014, four months after opening at $92.69 following a 7-for-1 split that took effect in June 2014.

AAPL Dow Jones Downturn

AAPL dips below $100 in pre-market trading after closing at $105.76 on Friday

Apple shares closed at $105.76 on Friday and are down over $35 from a 52-week high of $134.54 set on April 28, but many analysts remain bullish about the stock and believe that the current dip presents a buying opportunity for investors. The company is expected to announce new iPhones and iPads alongside the launch of iOS 9 and OS X El Capitan through the end of October.

Last March, Apple replaced AT&T on the Dow Jones Industrial Average, which is currently down over 500 points. The Dow Jones provides a price-weighted average of 30 significant stocks traded on the NASDAQ and NYSE, including American Express, Boeing, Chevron, Coca-Cola, Disney, Exxon Mobil, Goldman Sachs, IBM, Intel, JPMorgan and Chase, Microsoft, Verizon and Visa.

Update 6:10 AM Pacific: Apple CEO Tim Cook remains bullish about China in an email sent to Jim Cramer:

"Jim,

As you know, we don’t give mid-quarter updates and we rarely comment on moves in Apple stock. But I know your question is on the minds of many investors.

I get updates on our performance in China every day, including this morning, and I can tell you that we have continued to experience strong growth for our business in China through July and August. Growth in iPhone activations has actually accelerated over the past few weeks, and we have had the best performance of the year for the App Store in China during the last 2 weeks.

Obviously I can’t predict the future, but our performance so far this quarter is reassuring. Additionally, I continue to believe that China represents an unprecedented opportunity over the long term as LTE penetration is very low and most importantly the growth of the middle class over the next several years will be huge.

Tim"

Apple shares opened at around the $95 mark on the Nasdaq today.

Update 8:53 AM: Apple's stock has recovered all of today's losses and is now trading above Friday's closing price, although it remains down significantly from its mid-July peak.

Top Rated Comments

vmachiel Avatar
71 months ago

and in a few days it will shoot back up after iPhone announcement etc....

Nah man. After an announcement it always drops. Current expectations from investors include curing cancer, solving global warming, and the Apple Rocketship.
Score: 53 Votes (Like | Disagree)
NachoGrande Avatar
71 months ago
Huge buying opportunity!! I'll take the 30% return when the market rebounds.
Score: 15 Votes (Like | Disagree)
JaySoul Avatar
71 months ago
It's a disaster, right now.

The stock market is collapsing and currency wars are only just getting started.

The next 2 years will be rough.
Score: 7 Votes (Like | Disagree)
MacFather Avatar
71 months ago
Deleted.
Score: 6 Votes (Like | Disagree)
Ericus Macabeus Avatar
71 months ago
I am really happy that Apple has 200 billion in the bank so they don't have to change course just because the market has. I'm looking at this as a good time to reinvest and buy more Apple shares at a steep discount.
Score: 5 Votes (Like | Disagree)
Four oF NINE Avatar
71 months ago
Michael Moore says he buys no stocks, and does not participate in the stock market at all.

"I don't buy things I don't understand" —Michael Moore

Score: 5 Votes (Like | Disagree)

Top Stories

magsafecasedangle

Apple Elaborates on Potential for iPhone 12 and MagSafe Accessories to Interfere With Implantable Medical Devices

Saturday January 23, 2021 2:42 pm PST by
Since the launch of iPhone 12 models in October, Apple has acknowledged that the devices may cause electromagnetic interference with medical devices like pacemakers and defibrillators, but the company has now shared additional information. Apple added the following paragraph to a related support document today:Medical devices such as implanted pacemakers and defibrillators might contain...
Top Stories 44 Feature

Top Stories: 'Thinner and Lighter' MacBook Air, Smaller iPhone 13 Notch, iOS 14.4 Incoming

Saturday January 23, 2021 6:00 am PST by
We continued to hear a lot more about Apple's plans for its Mac lineup this week, including word of a high-end redesigned MacBook Air and the return of an SD card slot as part of the upcoming MacBook Pro redesign. It also sounds like Apple has been working on Face ID for Mac, but it won't be appearing in a redesigned iMac this year as originally planned. This week also saw rumors about the...
bloodoxygenapplewatch

Apple Watch Series 7 Rumored to Feature Blood Glucose Monitoring

Monday January 25, 2021 5:05 am PST by
The Apple Watch Series 7 will reportedly feature blood glucose monitoring via an optical sensor, according to ETNews. The report, which mainly focuses on the blood glucose capabilities of the Samsung Galaxy Watch 4, explains that Apple is intending to bring blood glucose monitoring to the upcoming Apple Watch Series 7 using a non-invasive optical sensor. Measuring blood glucose levels,...
maxresdefault

Microsoft Touts Surface Pro 7 as 'The Better Choice' Over MacBook Pro in New Ad

Saturday January 23, 2021 11:02 am PST by
Microsoft yesterday shared a new ad on YouTube titled "Microsoft Surface Pro 7: The Better Choice," in which the company compares its tablet computer to Apple's 13-inch M1 MacBook Pro, as spotted by MSPoweruser. The ad highlights the Surface Pro 7's touchscreen and included stylus as opposed to only a "little bar" (the Touch Bar) on the MacBook Pro. Other advantages of the Surface Pro 7...
airpods galaxy buds comparison

Samsung Galaxy Buds Pro vs. Apple AirPods Pro

Friday January 22, 2021 2:34 pm PST by
Samsung in January unveiled new flagship Galaxy S21 smartphones and alongside the new phones, introduced the $200 Galaxy Buds Pro, which are priced at $199 and offer Active Noise Cancellation. Subscribe to the MacRumors YouTube channel for more videos. These new Galaxy Buds Pro are clearly designed to compete with Apple's AirPods Pro, so we thought we'd compare the two sets of earbuds in our...
2021 mbp sd slot feature2

Bloomberg: Next MacBook Pro to Feature SD Card Reader

Friday January 22, 2021 7:50 am PST by
Last week, reputable analyst Ming-Chi Kuo outlined his expectations for new 14-inch and 16-inch MacBook Pro models later this year, including the return of the MagSafe charging connector, the removal of the Touch Bar, a new flat-edged design, and the return of more ports built into the notebooks for expanded connectivity. A concept of a modern MacBook Pro with an SD card reader Kuo did not...
time to walk apple watch

Apple Fitness+ Feature 'Time to Walk' Launching Soon With Audio Stories From Special Guests

Saturday January 23, 2021 7:13 pm PST by
Earlier this week, Apple seeded the watchOS 7.3 Release Candidate, which is typically the final beta version of a software update. The release notes for the update list a new "Time to Walk" feature for Apple Fitness+ subscribers, described as "an audio experience in the Workout app where guests share inspiring stories as you walk." Apple Fitness+ subscribers will be able to open the Workout...
Flat MacBook Air Feature

Bloomberg: Apple Working on 'Thinner and Lighter' High-End MacBook Air With MagSafe, Could Launch in Second Half of 2021

Friday January 22, 2021 3:34 am PST by
Apple is working on a "thinner and lighter" version of the MacBook Air that the company plans to release during the second half of this year at the earliest or in 2022, according to a new report by well-connected Bloomberg journalist Mark Gurman. It will include Apple's MagSafe charging technology and a next-generation version of the company's in-house Mac processors. Apple has discussed...
q4 2020 mac growth feature

Mac Sales Skyrocketing After M1 Launch

Tuesday January 19, 2021 3:00 am PST by
Apple's worldwide Mac shipments grew massively in the fourth quarter of 2020 after the launch of three new Macs with the M1 chip, according to new PC shipping estimates shared by Gartner. Apple shipped an estimated 6.9 million Macs, up from the 5.25 million it shipped at the same time in 2019, marking significant growth of 31.3 percent. In spite of the growth of Mac sales, Apple remained...
apple time to walk apple watch airpods 01252021 inline

Apple's New 'Time to Walk' Feature Launches Today for Fitness+ Subscribers

Monday January 25, 2021 6:30 am PST by
Apple today officially introduced Time to Walk, a new feature for Apple Fitness+ subscribers with audio stories from influential people that Apple Watch users can listen to with AirPods or other wireless headphones while walking. Time to Walk episodes will be automatically downloaded to the Apple Watch with a Fitness+ subscription, and users can start an episode directly from the Workout...