Apple Extends Slide to 15% in Two Days as Munster Calls Selloff Overdone
AAPL sits 51% above its 52-week low of $201.5.
Summary
Apple shares fell another 9.9% Friday to $300.48, bringing the two-day post-earnings rout to roughly 15% and erasing over $470 billion in market cap. Gene Munster argues the selloff is an overreaction: the September-quarter revenue growth guide of 9-11% would have been around 15% without supply constraints and FX headwinds. The Q3 double beat and record iPhone revenue were overshadowed by light iPad and Services segments and high investor expectations after a strong run. Munster sees potential catalysts in a two-batch iPhone launch, price increases, and the new Siri AI, but near-term sentiment remains fragile.
At the time of this announcement, AAPL was trading at $303.57 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.5T. The 52-week trading range was $201.50 to $344.57. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.