Are Apple (AAPL) Shares Headed Below $500?

By
A A A

Every time it seems that Apple ( AAPL ) shares have hit a bottom, the world's largest stock just keeps going lower. Now it's in danger of dipping below a major benchmark.

AAPL shares finished the week at $509 - their lowest level in 10 months. The stock hasn't been below $500 since mid-February.

The last six weeks have been a complete roller coaster for Apple. Look at what it's done since November 1:

In late November, it looked like the worst was over. But since the beginning of December, Apple shares have tumbled even lower, declining an astonishing 13%. Now analysts are torn over which direction it's going.

The low target on Yahoo! Finance is $270, while the high is $1,111. With a PE ratio of just 11.5 right now and in the midst of what is sure to be another blowout holiday quarter, on the surface Apple appears ripe for a huge bounce-back.

But with the fiscal cliff looming and its two recent products - the iPhone 5 and iPad Mini - disappointing, momentum is clearly not on Apple's side. The stock is just a stone's throw from sinking below $500.

Can the largest company in the world stop the bleeding? Stay tuned.



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

More from Wyatt Investment Research:

Related Videos

Stocks

Referenced

Most Active by Volume

28,042,526
  • $15.78 ▲ 1.68%
12,208,233
  • $36.69 ▲ 4.47%
10,031,428
  • $8.265 ▲ 1.66%
9,669,989
  • $54.91 ▲ 2.83%
9,535,861
  • $100.381 ▼ 0.19%
8,848,750
  • $30.77 ▲ 1.45%
7,430,052
  • $34.835 ▲ 0.97%
7,188,094
  • $9.76 ▲ 6.43%
As of 8/21/2014, 10:27 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com