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Apple Shares Dip Nearly 10% Ahead of iPad Mini Reveal

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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  • halcyon
    Meh
    Reply
  • wlachan
    4S & 5 proved to be underwhelming. Perhaps the Apple day was over the day Steve passed away.
    Reply
  • A Bad Day
    Apple even outdid Enron's $90 share price...
    Reply
  • Too bad it wasn't nearly 100%

    What an overvalued piece of crap company.
    Reply
  • alexthager
    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.
    Reply
  • thecolorblue
    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

    Reply
  • luciferano
    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.
    Reply
  • BU_Spike
    I'm not sure if the share price drop is due to the iPad mini or to the "lack" of supply of iPhone 5s.
    Reply
  • ericburnby
    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.
    Reply
  • frombehind
    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.
    Reply