Apple’s stock is continuing to fall and hit the lowest point in 52 weeks on Wednesday to $400.72. The company’s 52-week stock high is $705.07, which it hit just 7 months ago back in September ahead of the launch of the iPhone 5. The company has since seen a steep decline, and analysts have pegged a few reasons for the blame: common sell-offs to take in profits and a relatively quiet few months from the Cupertino-based company.
The new stock price hit just as U.S. carriers announced pricing and launch dates for the highly anticipated Samsung Galaxy S4, largely seen as a major competitor to Apple’s iPhone 5. HTC will also soon introduce its flagship HTC One smartphone to several carriers in the United States, including Sprint, AT&T and T-Mobile.
Apple’s stock price could begin to climb again as it announces new products. However, it will depend how groundbreaking the new devices are. It’s largely expected that we’ll see a refresh iPad, iPad mini and the iPhone 5S in the summer months, although rumors of an Apple iTV and an iWatch smartwatch have also added to speculation that Apple’s working on a new groundbreaking technology.