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April 29, 2013 | By Chris O'Brien
This post has been updated. Back in December, while I was writing a story about the extraordinary volatility of Apple's stock, one trader used the term "Apple slingshot" to describe the ups and downs of its shares.  Basically, the idea is that the stock experiences such wild fluctuations for such a huge stock. Each time it dipped to a new low over the past several years, it then rocketed back even further to a new all-time high. Like pulling back on a slingshot and then releasing it.  PHOTOS: The top smartphones of 2013 It just takes a strong stomach to hold on.  With the stock on a strong run the past week, I wonder: Are we seeing the latest Apple slingshot?
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BUSINESS
April 24, 2014 | By Chris O'Brien
Big earnings. Big stock buyback. Big stock bump. On Thursday, investors cheered Apple's performance by sending its stock up by as much as 8.5% in early trading.  The stock climbed to $ 569.50 at one point early Thursday, up from $524.75 the previous day.  Riding a wave of strong iPhone sales, Apple on Wednesday reported fiscal second-quarter revenue of $45.6 billion, well above analysts' consensus of $43.6 billion, and up from the...
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BUSINESS
February 21, 2013 | By Salvador Rodriguez
A hiring freeze at Foxconn, Apple's biggest supplier, has caused the Cupertino tech giant's stock price to drop since Wednesday, when news of the freeze broke. According to both the Financial Times and Bloomberg , Foxconn won't hire any more employees until the end of March. But there's some confusion as to why that is. Citing unnamed sources, the Financial Times report says a drop in demand for the iPhone 5 is behind the hiring freeze. QUIZ: Test your Apple knowledge "Foxconn's demand for workers this year was as low as that in 2009," a source in the report said.
CALIFORNIA | LOCAL
April 21, 2014 | By Howard Blume
The Los Angeles County District Attorney's Office has reviewed an internal L.A. school district report on its iPad contract and concluded that criminal charges are not warranted. The report, which has not been released publicly, raises issues about the handling of the bidding process, according to L.A. Unified School District officials who spoke anonymously because they are not authorized to discuss the review. Apple's iPad was selected as the device to be provided to every student, teacher and campus administrator in the nation's second-largest school system.
BUSINESS
September 12, 2012 | By Joe Bel Bruno
Apple's stock barely budged after the technology giant unveiled the iPhone 5, which it bills as the world's thinnest smartphone. Investors seemed to shrug off the announcement -- but that's not entirely shocking. Apple shares have, on average, fallen 1.4% the day the company launched all of the previous incarnations of the iPhone, according to Morgan Stanley. PHOTOS: Apple iPhone 5 The investment bank said the week after Apple announcements haven't been all that hot either.
BUSINESS
January 15, 2013 | By Chris O'Brien
Monday, Apple's stock slipped below $500 per share for just the briefest of moments before climbing back above the psychologically important barrier.  But today, the stock fell straight through $500 and just kept on going. In midday trading, the stock was down $14.35, or 2.86%, to $ 487.40.  Update:  The stock finished the day down $15.83 or 3.15% to $ 485.92. In my story on the anxiety surrounding the stock, I noted that the stakes for Apple's earnings report on Jan. 23 seemed to be growing by the day.  QUIZ: Test your Apple knowledge Echoing that sentiment Tuesday was a research note from Barclay's titled "Preparing for the Most Important Conference Call in Years.
BUSINESS
January 23, 2013 | By Andrew Tangel, This post has been corrected. See the note below for details.
Apple investors will soon find out whether their fears are founded, as the tech juggernaut is set to report its fiscal first-quarter earnings Wednesday afternoon. [For the Record, 7:32 a.m. Jan. 23: An earlier version of this post stated that Apple was due to report its fourth-quarter earnings. It is to report its fiscal first-quarter earnings. ] Apple's stock has fallen nearly 30% since September, in a sell-off fueled by reports of waning iPhone 5 sales and questions over whether Tim Cook can lead the company through the post-Steve Jobs era. Investors also worry that Apple could be losing market share to rivals, or that profits could suffer if it makes cheaper phones and tablets.  Apple won't report its earnings until after the closing bell on Wall Street.
BUSINESS
April 2, 2012 | By Deborah Netburn
One analyst is predicting that Apple stock will hit $1,001 in the next 12 months. Some people might call that number crazy, but Brian White, an analyst with Topeka Capital Markets who authored a report released Monday called "Apple Fever has More to Run," said if anything the valuation might be too conservative. "All we're doing is putting a 17 multiple on the earnings for 2013 and then adding back $103.66 cash," he said. "I think it's a conservative number. For most of its history Apple's growth rate was 86% a year.
BUSINESS
January 24, 2013 | By Chris O'Brien
Apple's stock opened trading Thursday down $55.27, or 10.75%, to $ 458.73  as investors reacted to a first-quarter earnings report that was deemed disappointing and the company's reduced outlook for growth. The trend confirmed the beating Apple's stock in after-hours trading Wednesday, when shares are much more thinly traded. The stock had closed Wednesday before the earnings report was released at $514.01. After the earnings report was released, showing record revenue but flattening profits, the stock was pummeled in after-hours trading that drove it down $54.24, or 10.55%, to $ 459.76.
BUSINESS
March 26, 2012 | By Tiffany Hsu
After causing a brief crash in Apple stock, sparking investor confusion and withdrawing its own initial public offering Friday, the high frequency trading exchange BATS Global Markets seems to be glitch-free Monday. But it must've been a rough weekend for executives at the Better Alternative Trading System, one of the largest stock exchanges in the U.S., where more than 10% of trading happens. BATS, which is based in Kansas City and has offices in New York and London, had expected to be riding high after using its own platform Friday to launch its stock.
BUSINESS
January 28, 2014 | By Salvador Rodriguez
Indiegogo, one of the top crowdfunding websites, announced Tuesday that it had raised $40 million in its latest round of funding from investors. The San Francisco start-up is used by entrepreneurs to raise funds for projects and products from users on the Web. The company said it would use the additional funds to continue expanding onto mobile devices, as it currently does not have any mobile apps. Indiegogo said the funding would also be used to continue expanding globally. However, the 85-person company already has a large international presence.
BUSINESS
January 28, 2014 | By Chris O'Brien
With Apple's stock falling more than 8% at one point on Tuesday, activist investor Carly Icahn swooped in and bought another $500 million worth of shares.  "Just bought $500 mln more $AAPL shares," Icahn tweeted. "My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race. " By mid-day trading, Apple's stock had recovered a bit to $ 509.63, a drop of $ 40.87, or  7.42%. Still, the tumble largely mirrors the reaction in after-hours trading Monday after an earnings report from Apple that showed the company sold fewer iPhones than expected during the holiday quarter.  PHOTOS: 10 ways to use the sharing economy In addition, the company said its revenue for the current quarter ending in March would be between $42 million and $44 million.
BUSINESS
January 27, 2014 | By Chris O'Brien, This post has been updated with the latest developments.
Apple reported iPhone sales Monday that fell well short of analyst estimates as well as guidance for the next quarter that also was lower than expected, sending the stock falling more than 5% in after-hours trading.  Apple said it sold 51 million iPhones in the first quarter of its 2014 fiscal year, which ended Dec. 28. That was a new record, up from 47.8 million last holiday season. But sales fell short of analysts' expectations that the company would sell 55 million iPhones in the quarter.
BUSINESS
December 23, 2013 | By Chris O'Brien
The stock price of Apple Inc. climbed more than 3% in early trading on Monday one day after the company announced a breakthrough deal to sell the iPhone through China Mobile.  By midday, Apple's stock had risen $17.05 or 3.11% to $566.07. The latest rise follows a rocky year that saw the company's stock plunge from a high of $702.10 in September 2012 to $390 last spring. Still, investors will no doubt take heart that the stock is up from the same date one year ago, as well as being up from the $549.
BUSINESS
October 21, 2013 | By Chris O'Brien
As Apple gears up Tuesday to reveal its latest versions of the iPad and iPad Mini, investors seem to be finally getting a bit more optimistic about all these new product launches.  On Monday, Apple's stock was up 2.84%, or $14.43, to $ 523.32 in mid-day trading.  PHOTOS: One man's quest to prove Legos can be art Within a week of the Sept. 10 iPhone announcements, Apple's stock has tumbled to $450.12. The company slowly regained momentum, helped by Apple's announcement that it had sold a record 9 million new iPhones during the first weekend.  That puts the stock with reach of its highest point this year, $549.
BUSINESS
September 23, 2013 | By Chris O'Brien, This post has been updated. See the note below for details.
Apple announced Monday that it has sold 9 million new  iPhone 5s and iPhone 5c units since Friday, shattering a record set last year.  Apple sold 5 million units of the iPhone 5 during the first weekend of September 2012. PHOTOS: Top 11 hidden, cool features in Apple's iOS 7 This was the first year the new iPhones were also available the same weekend in China. The iPhone 5 did not go on sale in China until December 2012, when it sold 2 million units during its first weekend.  Blowing past that record of 7 million sales for the combined first weekends exceeds nearly every analyst's projection.
BUSINESS
January 27, 2014 | By Chris O'Brien, This post has been updated with the latest developments.
Apple reported iPhone sales Monday that fell well short of analyst estimates as well as guidance for the next quarter that also was lower than expected, sending the stock falling more than 5% in after-hours trading.  Apple said it sold 51 million iPhones in the first quarter of its 2014 fiscal year, which ended Dec. 28. That was a new record, up from 47.8 million last holiday season. But sales fell short of analysts' expectations that the company would sell 55 million iPhones in the quarter.
BUSINESS
September 17, 2012 | By Salvador Rodriguez
Bolstered by reports of record iPhone 5 sales, Apple shares surpassed $700 for the first time, passing the mark in after-hours trading Monday. The Cupertino-based tech company's stock was hovering around $700 after flirting with the milestone throughout the day. The stock closed just 20 cents shy of the mark, driven by a company announcement earlier in the day that it had sold more than 2 million iPhone 5s on the first day of pre-orders. Apple's market value is now just below $656 billion.
BUSINESS
September 11, 2013 | By Chris O'Brien
Apple's stock sank more than 5% on Wednesday as investors expressed their disappointment that Apple did not unveil a cheaper iPhone on Tuesday.  The company did roll out the new iPhone 5c, a plastic-coated phone available in five colors. However, the price came in much higher than expected. About an hour after Wall Street's opening bell, Apple shares were trading at $466.37, down $28.27, or 5.7%, from Tuesday's closing price.  Video: Here's how Apple's iPhone 5S, iPhone 5C work The 5c will sell for $99 with a contract.
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