Apple Avoids Massive Embarassment of Sub-$500 Share Price, For Now

How much does it have to fall before it lands in your portfolio?

apple janIt wasn’t so long ago that the smart money was prophesying a day in which Apple would become the first company to reach a $1 trillion valuation. That was back in September, when the company’s share price was flirting with the $700 mark, and the notion that the company would soon cut orders to iPhone suppliers would have seemed far-fetched to most investors.

How quickly things can change. Apple share fell 3.6 percent today, dipping below $500 a share this morning for the first time in nearly a year. You’ll be happy to know that the company managed to avoid the gross indignity of a sub-$500 share price at close.