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Apple Stock Falls Below $600 for the First Time in Three Months

by Brandon Russell | October 26, 2012October 26, 2012 10:30 am PST

Apple Money - White LogoApple’s record-breaking year might not end so merrily, as the company’s stock fell below $600 for the first time in three months. Following warnings from Apple that profits over the holiday period would fall below Wall Street estimates, investors are cashing out and calling it a day, putting shares at $592.87 as of this writing. It’s a sobering blow, particularly during such a crucial stretch of the year, but the company will still likely enjoy healthy sales regardless. The reason Apple expects to miss estimates is because it’s launching so many new products with shrinking margins. That means the company won’t rake in as much profit during the holiday season, despite its new iPad mini being available (and already selling out in some instances).

[via Yahoo!]

Brandon Russell

Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...