Apple shares in freefall despite iPad & iPhone releases
Shares in Apple Inc have been taking a worrying nosedive in recent months after hitting an impressive high of $705.07 a share back in September 2012. At the time of writing, shares in the world famous tech company had plummeted to $527.678, in less than 2 months. It has been estimated that this drop has knocked around $170 billion off Apple's market capitalization value.
Despite the releases of much heralded devices such as the iPad with Retina Display (iPad 4), iPhone 5 and iPad Mini share prices have continued to fall, with brokers speculating that buyers are wary of buying Apple stock at the moment as they are waiting to see what will happen with regards to US capital gains taxes, which are expected to rise next year.
The drop in value has been blamed on investors selling stocks to lock in the current capital gains tax rates, without being penalized by next year's expected increase. Apple remains the most valuable American company though with NASDAQ publishing a market capitalization of the company valued at $496 billion (data as of 16 November 2012).
Market experts have stated a belief that Apple stock could be worth as much as $750, which might encourage undecided investors to start buying stock whilst it currently resides in the low $500 region.