Why Apple Sank Along With the Stock Market Today
Typically one of the better-performing stocks, Apple (NASDAQ: AAPL) couldn't escape the bear's claws on Thursday. For once, it wasn't the big tech company hitting the headlines that day. This, combined with a disquieting news item on the legal front, pushed the company's shares down by 1.9%, more or less matching the decline of the S&P 500 index.
That morning, the bulls were stampeding to get a piece of Activision Blizzard. As the entire tech world knows by now, that company is being acquired by Microsoft for the price of a small country (OK, $68.7 billion). With a nearly $3 trillion market cap, Apple isn't about to be purchased by anybody.
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Source Fool.com