WWDC Affirms It: Apple (AAPL) Stock Now Caught in Limbo
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Apple (Nasdaq: AAPL) may have just topped out.
Following explosive growth through 2010, Apple momentum seems to have petered out through the first-half of 2011.
Apple roared through 2010, closing nearly 40 percent better to $322.56 at the end of December, pushed by the introduction of the iPad, a new iPhone, and strong Mac sales. The Company surpassed venerable tech giant Microsoft (Nasdaq: MSFT) to become the largest tech company, currently with a market cap north of $310 billion.
Even 2011 started rather strong, with Apple moving over 10 percent through higher January as iPad sales kept rolling.
However, even the announcement of the iPad 2 in March, and expectations of a tablet for every man, woman, and child in the world did little to perpetuate further momentum. Shares have traded in a range of about $320 to its all time high of $364.90 in mid-February.
But can investors be overly happy about today's WWDC conference. CEO Steve Jobs (who looked great) unveiled iCloud, iTunes Match, 250 features for Mac OS X Lion, and an iOS upgrade. Not a bad showing.
But those aren't an iPad or iPhone. Or Macbook Air.
So, Apple closed lower, this time by its widest gap since mid-May. Arguing that there are plenty of analysts bullish on the stock is akin to arguing that the sky is blue, or grass is green (a frivolous endeavor), but will the Apple machine be able to meet heightened expectations and hungry investors?
Or has its core begun to turn brown?
Apple shares closed 1.57 percent lower today.
Following explosive growth through 2010, Apple momentum seems to have petered out through the first-half of 2011.
Apple roared through 2010, closing nearly 40 percent better to $322.56 at the end of December, pushed by the introduction of the iPad, a new iPhone, and strong Mac sales. The Company surpassed venerable tech giant Microsoft (Nasdaq: MSFT) to become the largest tech company, currently with a market cap north of $310 billion.
Even 2011 started rather strong, with Apple moving over 10 percent through higher January as iPad sales kept rolling.
However, even the announcement of the iPad 2 in March, and expectations of a tablet for every man, woman, and child in the world did little to perpetuate further momentum. Shares have traded in a range of about $320 to its all time high of $364.90 in mid-February.
But can investors be overly happy about today's WWDC conference. CEO Steve Jobs (who looked great) unveiled iCloud, iTunes Match, 250 features for Mac OS X Lion, and an iOS upgrade. Not a bad showing.
But those aren't an iPad or iPhone. Or Macbook Air.
So, Apple closed lower, this time by its widest gap since mid-May. Arguing that there are plenty of analysts bullish on the stock is akin to arguing that the sky is blue, or grass is green (a frivolous endeavor), but will the Apple machine be able to meet heightened expectations and hungry investors?
Or has its core begun to turn brown?
Apple shares closed 1.57 percent lower today.
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