Apple investors braced for turbulence
Five straight days of stock losses for the world's most valuable company Apple has sparked fears that it has ventured into bubble territory.
As a result, more cautious investors are re-evaluating their positions and cashing in some holdings ahead of the release of Apple's second-quarter results next Tuesday (April 24th).
This cautious approach was also seen last October as shares fell seven per cent when the company missed Wall Street expectations for the first time in years.
However, it's not all doom and gloom as the firm's share price surged nearly 60 per cent to a high of $644 this year, Reuters reports.
Chief investment officer for Harris Private Bank in Chicago told the news provider that this week's stock fluctuations have led to some nervousness among investors.
Wedgewood Partners chief investment officer David Rolfe added: "It's going to be a blowout quarter, just like the last one, but there's been a big move in the stock and to trim back on your position a little bit makes imminent sense."
Posted by Peter Robinson
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