Apple Shares Dip Below $400, Representing A 16-Month Low
Apple Shares Dip Below $400, Representing A 16-Month Low | TechCrunch

		
		Apple shares (NASDAQ:AAPL) are currently trading down at $398.11, 6.6 percent below yesterday’s closing price of $426.24. It represents a stark downturn for the stock as well as a 16-month low. Earnings could be to blame as they are coming soon and investors are not sure what to expect.
Overall, NASDAQ is down 1.11 percent right now. Reuters reports that Apple supplier Cirrus Logic announced disappointing revenue forecast, well below Wall Street’s expectations — the company manufactures analog and audio chips for iOS devices. That’s why some analysts predict weaker sales of Apple devices during Q2 2013.






While Cirrus Logic’s warning could justify today’s drop, it shouldn’t create such a hard hit. Now with a share price just below $400, Apple shares have disappointed many investors since the iPhone 5 launch. Apple won’t break the $700 barrier again any time soon.
AAPL still suffers from a lot of volatility and uncertainty. The company’s latest product announcement was the iPad mini in October 2012. In other words, it has been a very long time compared to previous years. Those keynotes general boost the stock before the day of the announcement. So any sign of weakness now greatly affects Apple’s stock.
Yet, it’s hard to tell whether sales are good. comScore indicates that the iPhone is still the top smartphone in the U.S. But other compelling devices like the HTC One and the Samsung Galaxy S4 will become available around the world in the coming weeks.
Even though competition is strong in the smartphone market, it was already very strong six months ago when Apple released the iPhone 5. As always, investors’ perception is more important than anything else. As is currently the case, reports of a possible demise can greatly affect Apple’s stock even though the company’s performance has yet to show significant signs of weakness.



		

		
		
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		Romain Dillet is a Senior Reporter at TechCrunch.

He has written over 3,000 articles on technology and tech startups and has established himself as an influential voice on the European tech scene. He has a deep background in startups, privacy, security, fintech, blockchain, mobile, social and media.

With twelve years of experience at TechCrunch, he’s one of the familiar faces of the tech publication that obsessively covers Silicon Valley and the tech industry. In fact, his career started at TechCrunch when he was 21. Based in Paris, many people in the tech ecosystem consider him as the most knowledgeable tech journalist in town.

Romain likes to spot important startups before anyone else. He was the first person to cover N26, Revolut and DigitalOcean. He has written scoops on large acquisitions from Apple, Microsoft and Snap.

When he’s not writing, Romain is also a developer — he understands how the tech behind the tech works. He also has a deep historical knowledge of the computer industry for the past 50 years. He knows how to connect the dots between innovations and the effect on the fabric of our society.

Romain graduated from Emlyon Business School, a leading French business school specialized in entrepreneurship. He has helped several non-profit organizations, such as StartHer, an organization that promotes education and empowerment of women in technology, and Techfugees, an organization that empowers displaced people with technology.	



	
	
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