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.
Apple (NASDAQ: AAPL) had a relatively uneventful week on the trading floor last week. Share prices started the week at $123.09 and closing on Friday at $121.30 for about a 1.5 percent loss on the week. A weekly high of $123.91 was reached on Tuesday and the low of $120.91 came during trading on Friday. Despite the lackluster stock performance, there were several positive items regarding Apple last week.
Apple (NASDAQ: AAPL) released its third quarter results shortly after the closing bell on Tuesday. Share prices proceeded to plummet nearly 7% in after hours trading (the drop off actually began shortly before the earnings call) even though it was yet another record breaking quarter for the Cupertino giant. After closing Tuesday at $130.75, prices opened Wednesday at $121.99. They recovered a little bit during large volume trading on Wednesday, closing at $125.22, and closed the week at $124.50.