Apple stock (NASDAQ:AAPL) opened on Monday at $96.16, and during the trading day Google's parent company Alphabet (NASDAQ:GOOG) briefly surpassed Apple as the most valuable company in the world. After Apple's earnings report hit, prices remained under $100. Alphabet also released a strong earnings report last week. Continuing the lackluster news for Apple, the company expects iPhone sales to decline year-over-year for the first time next quarter. Investors are concerned as the iPhone represents a majority of Apple's overall revenues. Both Alphabet and Apple are valued in the low to mid-$500 billion range.
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.
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.