For the first time since December 2011, Apple shares fell below $400 today, sliding more than 6% this week. Several factors accumulate over such an act of market over Apple share likely as Bernstein Research and Goldman Sachs issued preview notes, predicting on company’s second quarter earnings report.
Similarly with the dropping of iPhone sales and iPad mini shifting also weigh on profit margins for the period also somehow leads towards Apple’s share swinging like this. Another warning which comes from Cirrus Logic says that the audio chips taken a big inventory charge in the fourth quarter. While even with such numbers, Sacconaghi rates Apple as outperform with a $725 price target. Goldman’s target on the stock remains at $575.