Last week was a relatively flat week for Apple stock (NASDAQ: AAPL), as the share price fluctuated between $112.75 and $109.56, ultimately closing the week at $111.04 after opening on Monday at $112.73. The volume was low as well, reaching a high of 44.3 million during trading on Wednesday. Trading could pick up this week as the FY 15 fourth quarter results call approaches (Tuesday, Oct. 27th 5 p.m. ET).
Apple (NASDAQ: AAPL) share price woes continued as the market as a whole took a sharp downturn last week. Stock prices started the week at $117.16 and closed Friday at $105.76 for a whopping 9.7% loss on the week. Friday, which saw the most active trading since January, also saw the biggest slide of the week, opening at $110.43 and losing 4.2% by the closing bell. The volatility is attributed to a plunge in the Chinese market last week. Wall Street analysts are looking at this as a period of correction rather than the start of a bear market, as there are still many buyers out there.
It appeared that Apple (NASDAQ: AAPL) stock was poised for a rebound after it gained nearly 3 percent on Monday, closing at $119.72. It wasn't to be, however, as share prices dropped 5.2% in the following 24 hours, closing Tuesday's high volume session at $113.49. Wednesday's trading saw a low of $109.63, a price not seen since January, though it closed the day at $115.24. The volume dropped off and the price plateaued for the rest of the week, with the share price closing Friday at $115.96.
Apple (NASDAQ: AAPL) stock had a tough week, dropping to prices not seen since January. After opening the week at $121.50, share prices dropped precipitously on Tuesday and closed at $114.64 (and then dropped further to $112.95 in after hours trading). A bit was gained back on Wednesday after hitting the weekly low of $112.10 during trading. Share prices then leveled off for the rest of the week, closing Friday's session at $115.52 for about a 5% loss on the week.
Apple stock (NASDAQ: AAPL) has been in a rough patch ever since the company announced its third quarter results two weeks ago. Despite it being a record breaking Q3 for Apple, the numbers didn't quite meet Wall Street expectations, and the share price has been sliding ever since. The day before the earnings call shares closed at $132.07, close to their all time high. On Monday the stock fell below its 200 day moving average and investors took note, as yesterday saw the highest volume trading since January.