Apple 2.0

Covering the business that Steve Jobs built

Apple hits a 57-week low

March 1, 2013: 11:01 AM ET

The last time Apple traded below $430 was Jan. 24, 2012

chart_ws_stock_appleinc_20133111252_340xaFORTUNE -- The selling pressure on Apple (AAPL) continued unabated Friday, pushing the stock back to where it was 13 months ago.

Two minutes before the close of trading, Apple shares briefly touched 429.98. That's their lowest point since Jan. 24, 2012, when the stock closed at $420.50 in advance of the company's fiscal Q1 2012 earnings release. When Apple reported blow-out earnings that day on sales of 37 million iPhones, the stock rocketed up $37.50 in after-hours trading.

Apple hasn't had a day like that in some time. In the same quarter this year, the company sold 47.8 million iPhones (up 30%) -- and 23 million iPads (up 50%) -- and got punished for its efforts.

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Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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