Dec. 15 news, Apple shares plunged today, yesterday, Apple iPhone 5 to enter the Chinese mainland market. Apple shares fell so, mainly because people suspect that the iPhone 5 will not be popular, like the previous product iPhone 4S.
In Friday’s trading, Apple shares fell to $ 508.05, low price 4% higher than Thursday’s close. Subsequent rebound in stock prices, to noon about $ 511. Apple’s stock price is the lowest since February. To close, Apple’s stock price eventually fell $ 19.90, or 3.76%, to $ 509.79. Apple’s market capitalization is $ 479.56 billion, has fallen below $ 500 billion.
UBS Investment research analyst of Steve • melen Norwich (Steven Milunovich) lowered their estimates, and also Apple also lowered target price reduced from $ 780 to $ 700, he explained the March quarter expected iPhone and iPad shipments lower than expected supply chain problems.
The Melen Norwich reference some Chinese sources as saying, iPhone 5 may not be like the 4S as good, iPad mini will erode the iPad’s market. The report said: “Taking into account the European economy is not good, the highly competitive mobile phone, our previous estimate may be too positive.”
UBS maintain Apple stock BUY with target price of $ 700 is less than the consensus forecast of Wall Street. On average, Wall Street’s target price is $ 754.02, which is the average of the results of 48 analysts.
Also yesterday, the U.S. Court verdict, Apple violated three mobile patents of a company owned by Nokia, Sony Corporation of America all companies part.
UBS analysts remain optimistic about the long-term price of Apple. The report said: “although analyst estimates need to be adjusted, but we do not think the story is over. Apple is trying to launch a more beautiful product, iTV, still wearing a computer, or other new products, we believe that innovation is not dead. ‘
In mid-September, Apple shares had reached $ 700 record high, fell by 25%, followed by two months. Earlier this month, the share price re-rebounded to about $ 600.