The Apple stock (NASDAQ:AAPL) rally seen on Friday held prices over $100 into Tuesday this week. After the markets closed on January 26, Apple released their highly anticipated fiscal Q1 earnings report. Wednesday trading reflected investors' concerns over flat iPhone sales, despite a record-setting holiday quarter. AAPL slumped on Wednesday, only to bottom out at $92.39 on Thursday morning. Thanks to a small bounce on Friday, shares closed at $97.34 going into the weekend. Overall, a drop in price for Apple shares of $4.18 (-4.12%) occurred over the week.
With the first earnings report of fiscal 2016 in the rear view mirror, Apple and its investors are looking forward to future products. The next generation iPad is rumored to be coming in March, and details on hardware upgrades in the pipeline have surfaced. In addition to iPad 3 rumors, analysts have published more speculation on the upcoming iPhone 7 Plus. In other news, many Netflix fans will see price increases later this year, as the company phases out grandfathered subscription rates. See below for this week's highlights, and beware the Crash Safari website on iOS devices!
After a flat week, Apple stock (NASDAQ:AAPL) opened the short trading week on Tuesday at $98.10, only to flirt with its 52-week low on Wednesday morning. After hitting a mid-week low of $93.46, AAPL prices bounced. Friday saw a rally, with gains of 5.32% over the previous day and the stock closing at $101.42. With AAPL stock jumping $3.32 (+3.38%) over the week and closing at over $101, could this signal the end of the doldrums?
After a slide last week, AAPL (NASDAQ:AAPL) stock opened Monday at $98.39 and pushed to a high on Wednesday of $101.13 before losing traction. Friday saw the week's lowest price at $95.53, with the stock rebounding later in the day to close at $97.08. Apple's stock price was essentially flat this week, losing $1.31 (-1.33%) over the five-day period.
Apple stock (NASDAQ:AAPL) continued its slide downward last week, closing on Friday at $96.96. This stretch marked the first time since October 2014 that AAPL has closed below $100. Reports of planned cuts in iPhone 6s production contributed to the drop in price, as the iPhone comprises 66% of net sales. The economic downturn in China hasn't helped the situation, with stocks across the board losing value.