Apple (AAPL) Shares Amid Steepest Decline Since May

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So much for the iPhone effect .

Apple ( AAPL ) shares fell for a third straight day today, dipping below $670 for the first time in two weeks. The stock has now fallen 4.6% this week - the steepest decline for Apple shares since mid-May.  

So what happened? Wasn't the September 12 iPhone 5 unveiling supposed to give the stock the usual 9% to 13% boost it traditionally receives after iPhone/iPad announcements.

Well, Apple shares did get a boost. In less than a week, the iPhone announcement boosted the stock from $660 a share over $700 a share for the first time ever. Then the phone hit shelves and sales were less than most analysts were expecting.

Hence the decline since September 21 - the day the iPhone 5 made its debut.

I doubt this decline is any real cause for concern if you're an Apple investor. After all, this three-day drop-off has only knocked Apple shares back to where they were before the iPhone 5 unveiling.

Furthermore, the last time the stock got knocked down like this, it immediately rebounded. After falling from $570 a share to $530 a share in mid-May, it took only three trading sessions from May 21-23 for Apple shares to rise back above $570.

With a mini iPad supposedly set to debut next month, another quick rebound seems likely.

If there's anything we've learned this year, it's that Apple rarely stays down for long. 



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AAPL

Wyatt Investment Research

Wyatt Investment Research

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