Shares of Apple drop significantly after string of bad news
Now might be a great to buy Apple stock, unless you think that the company’s many problems this week will continue to drag it down for a little bit longer.
Apple shares are down over 3 percent as investors begin to weigh the recent “Bendgate,” “Celebgate,” and iOS 8.0.1 snafus that have enveloped the company. The turmoil comes just days after Apple announced it had sold a record 10 million iPhone 6 and iPhone 6 Plus units in the first weekend of release.
Earlier in the day, news leaked that Apple knew of possible iCloud vulnerabilities for at least six months. These vulnerabilities were likely the cause for the recent celebrity photo leaks. Previously, the company said that the theft of the photographs was not the result of “any breach in any of Apple’s systems including iCloud or Find my iPhone.”
Cupertino is also being forced to address whether iPhone 6 Plus handsets are easy to bend. The company is said to be working on new guidelines for when customers ask for a replacement device.
Apple is also dealing with the fallout of its release on Wednesday of iOS 8.0.1. The update caused cellular and Touch ID problems on the iPhone 6 and iPhone 6 Plus. The company has since pulled the update and promises a fix in a few days. They also issued a short-term solution for those affected by the sloppy update.
At the time of this writing, Apple shares stand at $98.80. Despite the bad news, the sky isn’t yet falling for current Apple investors. Year over year, the stock is up over 43 percent.
