Wednesday, 23 February 2011
Apple has gone up almost 70% in a year, and it’s now wavering at the 340 price level after Mondays sharp decline on the overall market.
So apple is down 6% from last week record high of 365.00 dollars a share.
The downfall is caused by several things, including:
- the recent overall market turmoil
- concern about the health of CEO Steve Jobs
- a relentless barrage of negative rumors about the delayed launch of IPad 2 and Iphone 5
- weaker than expected sales of the iPhone at Verizon.
Share holders are meeting in California today:
the talk of the day will be about Apples succession plan.
A lot of investors are concerned about the condition of Steve Jobs health, if something were to happen to him or his post, that could be a potential negative for the company and for the stock.
So the big question is: can somebody fit in the shoes of the iconic personality of Steve Jobs?
The best candidate to succeed to Steve Jobs position, should be Tim Cook, which have run the company in his absence.
Still, the question remains, can Apple continue to innovate, move a the same pace, along the same lines, and be as successful without Steve Jobs? most probably not. However, no matter what happens, Apple is Apple, and there is no denying about the empowering place it holds in the tech sector. Apple still has a long way to go, and shares might continue to drop during these shaky moments. However, if Apples drops down to the 300.00 dollar mark, it certainly will be a great opportunity to own shares of this amazing company.