Apple's Shareprice Continues to Slide Downwards
Published on: 17th Apr 2012
Note -- this news article is more than a year old.
The value of Apple shares once seen as a one way bet as an always rising option have spent the past week being battered by concerns that mobile networks are going wary of the high subsidies its products demand.
Last week Verizon Wireless became the latest major network to apply an upgrade fee to customers purchasing a new handset in order to help curb the cost of smartphone subsidies. The move has triggered concerns that lower subsidies will lead to higher retail prices, and a slowing down of the turnover rate at which Apple sells new handsets to existing customers.
The shares closed yesterday at US$580.13, compared to a peak of US$636.23 on the 9th April.
Analysts at Wedge Partners said in a research note that demand for the latest version of Apple's iPad is beginning to wane, citing the prospect that Apple's earnings report will show sales of the tablet missed analysts' predictions last quarter.
Apple is due to report its financial results on the 24th April.