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Apple Shares Dip Nearly 10% Ahead of iPad Mini Reveal

By - Source: CNET | B 35 comments

Following record $705 shares last month, share prices drops to $631.47.

Apple shares have experienced a decrease of nearly 10 percent with the unveiling of the iPad Mini looming.

Since hitting an all-time high of $705 last month, Apple shares were down to $631.47 this morning. One feasible explanation is a stock retreat ahead of a brand new product launch.

"We continue to believe iPad Mini is the competition's worst nightmare, but attractive price points will be key," said Sterne Agee analyst Shaw Wu. "We believe concerns are overdone and this appears to be a typical consolidation after a big run."

The iPad Mini, which is rumored for an announcement next week on October 17, reportedly features a 7.85-inch display (with all earlier iPads boasting a 9.7-inch screen). Its design is said to considerably outshine the iPad 3's design, with production of the tablet reportedly already underway.

 

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Top Comments
  • 30 Hide
    wlachan , October 10, 2012 12:10 AM
    4S & 5 proved to be underwhelming. Perhaps the Apple day was over the day Steve passed away.
  • 23 Hide
    halcyon , October 10, 2012 12:03 AM
    Meh
  • 21 Hide
    Anonymous , October 10, 2012 12:25 AM
    Too bad it wasn't nearly 100%

    What an overvalued piece of crap company.
Other Comments
    Display all 35 comments.
  • 23 Hide
    halcyon , October 10, 2012 12:03 AM
    Meh
  • 30 Hide
    wlachan , October 10, 2012 12:10 AM
    4S & 5 proved to be underwhelming. Perhaps the Apple day was over the day Steve passed away.
  • 7 Hide
    A Bad Day , October 10, 2012 12:19 AM
    Apple even outdid Enron's $90 share price...
  • 21 Hide
    Anonymous , October 10, 2012 12:25 AM
    Too bad it wasn't nearly 100%

    What an overvalued piece of crap company.
  • -3 Hide
    alexthager , October 10, 2012 12:27 AM
    wlachan4S & 5 proved to be underwhelming. Perhaps the Apple day was over the day Steve passed away.


    The iPhone 5 was Steve's project. I love the phone, but Apple messed up with the release of Maps and Passbook. I didn't actually mind Maps at all when it came out, but it should have little flaws. Passbook should have supported Starbucks upon release. I'd agree they're making a few poor decisions, but I think the criticism their receiving, they'll be able to avoid these disasters in the future. I was shocked when I witnessed the Retina Macbook Pro, it was a sign of traditional Apple innovation. It's still there, Apple just needs to focus on what makes them the most successful tech company.
  • 13 Hide
    thecolorblue , October 10, 2012 12:28 AM
    Apple is clever...

    this will be a guaranteed sell to those iSheep out there who just have to have one of each apple gadget. right now iSheep everywhere are furiously brainstorming for reasons why they absolutely need this new piece of iGadgetry as they desperately yearn for their next iGasm

  • -3 Hide
    luciferano , October 10, 2012 12:28 AM
    A Bad DayApple even outdid Enron's $90 share price...


    https://www.etrade.wallst.com/v1/stocks/snapshot/snapshot.asp?symbol=BRK.A

    $133,880.000 per share right now. Several hundred isn't record breaking, to say the least.
  • 10 Hide
    BU_Spike , October 10, 2012 12:55 AM
    I'm not sure if the share price drop is due to the iPad mini or to the "lack" of supply of iPhone 5s.
  • -2 Hide
    ericburnby , October 10, 2012 1:08 AM
    Sorry haters, it's only temporary. It dropped after the iPad 3 came out and also dropped after my daughters birthday party.

    What matters is where it will be at the end of the year after what will surely be a monster holiday quarter.
  • 2 Hide
    frombehind , October 10, 2012 1:31 AM
    Hmm, this is ppl prolly short-selling it to drive prices down before the next launch = guaranteed profit for them, since they know that come hell or high water, people will buy anything apple releases, and their stock is guaranteed to go up again.
  • 9 Hide
    A Bad Day , October 10, 2012 1:52 AM
    luciferanohttps://www.etrade.wallst.com/v1/st [...] mbol=BRK.A$133,880.000 per share right now. Several hundred isn't record breaking, to say the least.


    A picture would be nice. I don't feel a need to create an account to see what you linked to.
  • -1 Hide
    nforce4max , October 10, 2012 1:57 AM
    Na it is just George Soros dumping his stock like all the rest of the million and billionaires while getting out of American companies. Market is going to at some point will take a huge dive and will never fully recover. Get out of all stocks and bonds. Gold and silver is no safe haven.
  • 0 Hide
    nieur , October 10, 2012 2:05 AM
    I am not a financial expert but if iPad mini fail whether the stock will still sink or will it slightly recover?
  • 1 Hide
    tomfreak , October 10, 2012 2:46 AM
    alexthagerThe iPhone 5 was Steve's project. I love the phone, but Apple messed up with the release of Maps and Passbook. I didn't actually mind Maps at all when it came out, but it should have little flaws. Passbook should have supported Starbucks upon release. I'd agree they're making a few poor decisions, but I think the criticism their receiving, they'll be able to avoid these disasters in the future. I was shocked when I witnessed the Retina Macbook Pro, it was a sign of traditional Apple innovation. It's still there, Apple just needs to focus on what makes them the most successful tech company.
    the real prob is the complete ban of google map app, and there is no downgrade option for user to still want the google map app back.

    if u a dumb family member clicked update ios6 for ur ipad, u cant get back to ios5, and u want that map there is noway around it.
  • 0 Hide
    luciferano , October 10, 2012 4:46 AM
    A Bad DayA picture would be nice. I don't feel a need to create an account to see what you linked to.


    http://finance.yahoo.com/q?s=BRK-A&ql=1
  • 3 Hide
    luciferano , October 10, 2012 4:50 AM


    Quote:
    Just like Android fan boys who buy one of the 1,000 different Android tablets out there. At least Apple products hold their value and are supported for more than 3-4 months.


    Most Android tablets are still supported. We just had a wave of updates going to Android tablets a few days or weeks ago. Even without constant updates, they still hold value. Besides, it's not like updating to iOS 6 can be counted as supporting for many people who use Maps. That's kinda the opposite of supporting and even worse than simply not supporting.
  • 1 Hide
    RealityClash , October 10, 2012 7:36 AM
    I work for a consumer electronics retailer, from my personal experience people don't buy Android tablets because they may be a little cheaper. The majority of people who buy Android tablets buy them because they want a device that's either more productive or customisable than an iPad.

    On the other hand, I've found that people who buy iPad's are people that could either be passed off as your usual "iSheep" or otherwise people who specifically need an iPad because they plan to use it at school or work where a system has specifically been designed to work with iOS.

    I can't see the release of the iPad Mini affecting sales of other devices much (apart from the first few weeks where all the devoted iSheep rush out and buy 50 of course)
  • 4 Hide
    iamtheking123 , October 10, 2012 7:40 AM
    So basically it's going to be a day late to the party Amazon and Google already started. Way to be innovative, Apple.
  • 4 Hide
    cats_Paw , October 10, 2012 8:14 AM
    I never really liked apple, but at least before the whole pattent war i had some respect for the company.
    After all theyve done, im not surprised this happened.
  • 3 Hide
    luciferano , October 10, 2012 8:30 AM
    Cats_PawI never really liked apple, but at least before the whole pattent war i had some respect for the company.After all theyve done, im not surprised this happened.


    Unfortunately, I don't think that it'll stay below $700 per share for too long.
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