Apple Shares Fall: Yesterday, we brought you a couple of video analysis pieces discussing the recent fall of Apple Inc. (NASDAQ:AAPL) shares. As you know, this is an ongoing story that is well worth updating on a daily basis.
If you want to take a closer look at the analysis from yesterday, visit these two stories:
Today, Bloomberg TV posted a video entitled “Apple Turns to Low Hanging Fruit as Stock Falls” on its website. While this video touches on many of the same points as those from yesterday, Scarlet Fu (host of “Off The Charts”) does a great job bringing us some insight as to where Apple Inc. (NASDAQ:AAPL) is trading right now as compared to its price target as well as other companies.
Apple Inc. (NASDAQ:AAPL) Press Info
She starts out by giving us a brief breakdown of where Apple shares stand for the current week:
“Apple shares this week broke below $500, an 11 month low. Remember when Apple closed at an all-time high of $702 back in September? Back then, analysts kept jacking up their price targets. Going into the fourth quarter of last year, the average target among the 65 analysts who follow Apple, more than $780.”
Although things are never as bad as they seem, it is easy to see that Apple Inc. (NASDAQ:AAPL) is far from the average target that analysts were setting just a few months back.
Fu goes on to talk more about the fall as well as the adjusted price target:
“Now, the stock is down by close to a third but take a look at the average price target. It has come down, but only by about seven percent to $728. What that leaves is a 33 percent spread between Apple’s current price and the average price target. That, in fact, is the widest gap since the depth of the financial crisis back in 2009. Of course, there is a big difference because back then the entire market was plunging. Now, it feels like only Apple Inc. is.”