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Apple stock punished in the wake of executive departure announcements

Apple's stock takes a dive today after Monday's announcement of an exec lineup change

| Business, Financial & Legal News | Posted: Oct 31, 2012 6:48 pm

Apple's stock has not come out of Hurricane Sandy looking very good. On Monday, right as the storm was coming into New York and shutting down the trading markets, Apple announced a change up in the executive line-up, saying that two executives would be leaving, with some current executives gaining expanded responsibilities.

 

TweakTown image news/2/6/26492_1_apple_stock_punished_in_the_wake_of_executive_departure_announcements.png

 

Executive change-ups are not usually a good sign for a company, as a company that is doing well does not need to be changing their leadership. Investors finally got a chance today to show whether or not they were pleased with the changes and the stock shows that they aren't too happy with the idea.

 

At the time of writing, the stock is at $600.64, however the low for the day comes in at $587.70, which is lower than it has been since July. Apple will continue to have some problems as more companies enter the tablet market and as current competitors bring out stronger and stronger competitors.

NEWS SOURCE
Venturebeat.com

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