Why Apple Plunged Today
Shares of Apple (NASDAQ: AAPL) were plummeting on Thursday morning, down 4.4% as of 10:30 a.m. ET. That was even greater than the broader tech-heavy Nasdaq Composite, which was down a little over 3% at that time.
With the broader markets down a lot, it's no surprise Apple is down as well, but it is surprising to see this stock, which has held up better than most tech stocks, underperform to such a degree.
Apple actually received both an upgrade and a rare downgrade from Wall Street analysts today. Given that Apple still trades at a premium multiple amid an overall bear market, it's no surprise to see the stock falling back to Earth.
Source Fool.com
