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AAA  Nov. 14, 2012
In the bargain bin
By PETER SVENSSON
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Apple stock has taken a beating since the launch of the iPhone 5. It has fallen 23 percent to $542.90, from an all-time closing high of $702.10 on Sept. 19, two days before the phone went on sale. This is happening even as Apple is shipping more new products than ever. In part, the price decline stems from the company’s warning that those new products, like the iPad Mini, provide lower profit margins because they’re expensive to produce. But that’s a short-term effect: once the production lines have warmed up, the costs will come down. There are other concerns, but Wall Street analysts haven’t been encouraging the sell-off. On the contrary, many have raised their price targets since the stock peaked, and the average price target is $774.

Associated Press
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