Apple’s (AAPL) stock has been in free-fall over the last few months, shedding 42% of its value after reaching an all-time high of $705.07 last September. Shares were falling hard again Thursday and could end the trading day below $400 a share -- the first time since December 2011. (Update: Apple shares closed down 2.6% at $392.18 after breaking $390 intraday. Nearly 23 million shares traded vs. the average of 17.4 million in the prior three months).
Wall Street analysts have also changed their tune on the iPhone maker. When the stock was exploding to new highs last year, analysts were clamoring to declare new price targets. One would be forgiven to assume a “who is the biggest Apple bull?" competition was taking place during this heady time.
Now, estimates have been reconfigured and reevaluated to reflect a grim reality: the company’s rapid hot growth is cooling, new product announcements are ebbing and Apple’s celebrated “cool” factor may be over. Some people are even comparing AppleRead More »from Apple Shares Slump Below $400 But This Isn’t Microsoft, Ritholtz Says