Just a few minutes ago, the closing bell rang and regular trading ended on the US markets. For Apple, it was a really bad week. How bad? Take a look at the 5-day chart:
At the beginning of the week, shares in AAPL were bouncing happily at about the $105 level and all was right with the world. Then what happened? Tuesday afternoon's earnings report showed an end to 13 years of continued record earnings, and the stock dropped like a rock in after-hours trading.
The rest of the week has been equally dismal, with hedge fund billionaire Carl Icahn dumping his holdings in Apple. For the week, Apple has dropped about $11.61 per share and lost about $61.6 billion in market capitalization.
All is not lost, however. The company still had quarterly earnings of $50.6 billion and net income of $10.5 billion, both numbers that many companies would love to see. With a little luck and a lot of hard work, AAPL's share price will return to the high levels it has seen in the past.