Apple stock fell 4.1% on Monday, continuing a five day skid and a trend that has drained $ 50 billion in market capital from the company and dropped share price from a high of $ 643 on April 10 to its current price of $ 580.
Apple has been flying high lately, weathering dual storms of Jobs-Cook succession and, most recently, Mike Daisey’s Foxconn fabrications. The stock is up in early trading and many analysts are holding firm to an expected $ 700 target, calling this a “softening” and not a correction.
Even investors are taking the loss in stride. One user, mauser96, wrote on the MotleyFool boards:
The next big product push should happen during the summer with the potential for an iPhone 5 announcement and/or something more concrete in the TV space. That said, analysts expect the company to sell 12 million iPads this quarter and 30 million iPhones.