Apple stock drops after Goldman Upgrade
Yesterday afternoon, Apple’s stock took a 4.5 point drop (or 2.7%) after both a spike that brought the company up over $170 a share, and an upgrade from Goldman Sachs for “across the board” strength in the Mac line. Sachs raised Apple’s target price from $165 to $190 and recommended to their clients that they buy into the Cupertino based company.
Some attribute the price drop to be a result of stock holders selling off shares to take profits from their stock. As the market opened today, Apple stock was trading at 162.23
Comments
L R
October 12th, 2007 at 2:53 pm
The majority of the market panicked yesterday. And tanked. It started with a warning about Baidu, then spread throughout tech. To call it profit taking is oversimplifying what happened.
AH
October 14th, 2007 at 1:23 am
Wow thats strong! http://www.myeclinic.com