Apple shares fell another 1 percent on Tuesday to a record-low $176.51, pushing the company one step closer to the worst month of the year.
Shares of the iPhone maker fell no less than 11% this month alone and 25% since October when it reached an all-time high of $233.47, as per CNBC.
Citi analysts have set a price target for Apple stock of $205, explaining that the fluctuations are mostly the result of the trade war involving the United States and China.
Since most of the components that Apple uses on products like iPhone and MacBook are sourced from China, continuous trade concerns generate a somewhat constant instability in terms of stock price.
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But analysts believe the decline experienced by Apple is actually good news, as this is the best moment to purchase AAPL stock. In other words, the price is likely to jump a… (read more)
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