Apple Earnings Call: It was not that long ago when Apple Inc. (NASDAQ:AAPL) was considered the most valuable company in the world. However, things have changed quite a bit since the company’s earnings call earlier this week.
There was a time when everybody was wondering how high Apple could go. Now, analysts and investors are wondering how low it will go before things turn around.
For a recap of where things stand right now, read this brief excerpt from the USA Today:
“In trading Friday, shares of Apple (AAPL) dipped below $441 a share, reducing its market cap to $413.96 billion, below Exxon’s $416.95 billion (XOM). Last year, investors and analysts swooned as Apple shares soared and it surpassed the oil giant’s longstanding No. 1 spot.”
What a difference a year makes. Last year, things were going so well for Apple Inc. (NASDAQ:AAPL) that analysts could hardly contain their excitement. Price targets were pushed higher and higher as shares reached $700.
With its recent “weaker-than-expected revenue,” shares continue to fall. The USA Today article sums it up best by saying, “It’s the latest in what’s been a major deflation of a one-stock bubble, falling 36% from its high in September.”
The big question now is this: what does the future hold for Apple Inc. (NASDAQ:AAPL)? Will things start looking up again in the near future? For some answers, check out this article: Jon Erlichman Discussing What is Next for Apple Inc.
At this point, it is easy to see that Apple is dealing with some strong downward momentum. This has led to lots of changes thus far, with more on the horizon.
Here is what some analysts are thinking, as shared by USA Today: