Apple Falls Big
Submitted by Stockmaster3 on Wed, 12/05/2012 - 22:45
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Apple Inc. (NASDAQ:AAPL) shares had their worst day performance in more than four years. That equates to a 6.8% decline or $37 sliced off Apple shares.
Apple Inc closed at $538.79 a share which is 31% from its 12 month high. Below is a look at the Apple action today. Apple may retest the $500 share price before the year is done. Should the bearish trend contine for Apple shares it will be sure to catch some buying interest. Thanks to today's decline Appple Inc. now has a P/E of 13. The next stop for Apple could be $525 to $520 a share.
MASTERY Bottom line:
Thanks to the decline it could be an invitation to Bob for Apples. Mastery likes getting in on the decline, we will take a small position in AAPL.
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