Apple Inc. (AAPL), Bank of America Corp (BAC) and Cypress Semiconductor Corporation (CY)
The shares have been in a downward spiral for the better part of the past year. The weak Apple stock price action, as well as Apple’s lack of inspiring innovation, has prompted analysts to downwardly revise their outlook on AAPL. On Friday, more selling enters the picture, as the Russell indexes will conduct their annual reconstitution, a move that will see AAPL’s weighting fall to 2.52% from 2.77% on the Russell 1000 — prompting ETFs and indexes pegged to the Russell 1000 to sell the stock to match the lower weighting.
Apple to lose weighting in Russell index, shares could fall
Or they could go up. One or the other. Up or down. Maybe stay the same. Probably down. Look, mom! I’m an anayst now!
Check Your Amazon Account: You Might Have a Free Credit
Ultimately, however, the higher prices doomed Apple’s iBookstore, Manjoo wrote. And when the Justice Department pressed antitrust charges in 2012, Apple decided to go to trial instead of following the publishers’ examples and striking a deal with the government. Now, years later, Apple is paying a steep price. The legal saga came to an end in March when the Supreme Court declined to hear Apple’s appeal of a lower court’s decision that it pay out millions for “engaging in a conspiracy that violated federal antitrust laws,” according to Reuters.
Apple Still Pointed Lower; Headed for $80?
Analysis Finds That Shares of Apple Could Be Headed to $80 a Share
iPhone 6/6s weakness and iPhone SE momentum will continue to put Apple under ASP pressure