Additional Information
Market: NASDAQ
Sector: Computer Hardware
EPIC: AAPL
Latest Price: 524.75  (-1.31% Descending)
52-week High: 570.09
52-week Low: 393.78
Market Cap: 468,071.00M
1 year chart
1 day chart

Apple Inc. designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions

Apple stock moves lower after it hit a new high Monday

21st Aug 2012, 11:16 am by Deborah Sterescu
Anticipation for Apple's next iPhone and mini iPad moves the company to new highs on Monday, but stock moves down Tuesday late morning Anticipation for Apple's next iPhone and mini iPad moves the company to new highs on Monday, but stock moves down Tuesday late morning

Apple (NASDAQ:AAPL) was lately down late morning on Tuesday, after setting a new record for its market value the day before on buzz for its new iPhone products. 

The stock closed up by 17.04 at $665.15 on above average volume Monday at its second consecutive new high for the year, and was up again by more than $5.00 Tuesday Morning, but lately gave up gains to change hands at $660.67. 

On Monday, the company's market value hit $624 billion, beating the previous record for market capitalization set by Microsoft Corp (NASDAQ:MSFT).

Investors are optimistic that the next version of the iPhone will meet anticipated high demand. Apple takes about 70 per cent of its profit from the iPhone. 

The California company is to launch the next version of the iPhone on September 12, with many speculating they will see an entirely new design. 

According to some analysts, the new phone is expected to have a larger screen and a thinner body, and is anticipated to work with the long-term evolution wireless networks introduced by carriers like Verizon Wireless (NYSE:VZ) and AT&T (NYSE:T). 

Apple is also reportedly planning to unveil a mini iPad by the end of this year that will be cheaper. 

In other news Tuesday, ex-employee Wayne Goodrich has sued Apple, claiming that he was fired for no legitimate reason, despite Steve Jobs' promise of job security. 

The complaint was filed last week in California state court in San Jose. 

Goodrich said he was fired in December for "business reasons" not connected to his performance. He’s seeking compensation for loss of restricted stock that was worth $97.40 a share when awarded in 2008 and about $635 a share as of August 17. 

Goodrich worked for Jobs since 1998 and says he was a confidant of the man who turned the company's fate around, with the firing being an alleged breach of contract. 

Apple is also embroiled in a patent suit with Samsung, with recent talks failing between the two parties as the jury begins deliberating this week after closing arguements. 

The high profile case is a result of Apple accusing Samsung of copying the design and some features of its iPhone and iPad, with the company asking for a sales ban as well as monetary damages. 

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here