Apple Inc (AAPL) Sinks to 3-Month Lows After Executive Change-Up

Apple Inc. (NASDAQ:AAPL) dipped to a low of $587.70 yesterday, its lowest level since July 27, 2012.

The decrease comes after Apple Inc. (NASDAQ:AAPL) announced changes in upper management. Scott Forstall, senior vice president in charge of the company’s iOS mobile device platform, and retail head John Browett, who had only recently been hired, are leaving the company. No reason for their departures was given. John Forstall has been with Apple since 1997.

“In its statement, Apple Inc. (NASDAQ:AAPL) said top executives Jony Ive, Bob Mansfield, Eddy Cue and Craig Federighi will take on more responsibilities,” writes MarketWatch. “Ive, Apple’s head of product design, will also lead the company’s ‘human interface’ effort across all of its devices. Cue will take over responsibility of the company’s Siri and Maps mobile services.” MarketWatch also reported that “Craig Federighi, who’s been leading Apple’s OS X platform, will take over leadership of iOS,” while “Bob Mansfield, the senior vice president that has been in charge of hardware engineering for Apple, will lead a new group called Technologies, which the company said “combines all of Apple’s wireless teams across the company in one organization,” that will also include its semiconductor teams.”

According to the Fly on the Wall, Apple Inc. (NASDAQ:AAPL) dipped below its 10-month moving average of $588.02 yesterday, breaking its upward trend. The stock is rebounding in pre-market, hitting a high of $599.50. The only question is whether the increase will hold. Apple is a great company and has historically been a solid investment – it returned over 45% from the first of the year through the end of October – but lately it seems to be running