Apple Stock Sinks as Profits and Products Are Questioned - NYTimes.com

Accentuating the Apple negative

“Owners of Apple shares would have good reason to fear higher taxes on capital gains. Apple shares have appreciated mightily since 2005 when they were about $35 apiece; they began this year at $411 and peaked at more than $700 in late September. The drop on Wednesday only added to what has been a grim few weeks for Apple shares, which have fallen over 20 percent from that peak, to $558 on Wednesday.

The decline has followed a sequence of seemingly unrelated events, including a broader-than-normal overhaul of its product line that is expected to hurt profit margins in the near term and a rare shake-up in Apple’s senior ranks.

“It has just been wave after wave of bad news,” said Gene Munster, an analyst at Piper Jaffray.”

Apple Stock Sinks as Profits and Products Are Questioned - NYTimes.com