Apple’s valuation will fall to less than $3 trillion for the worst reasons

By news@appleinsider.com (Mike Wuerthele) If the current stock price holds until opening, and it is likely to, Apple will fall below the $3 trillion valuation after reaching it in the last hours of June, because more than half of the firms giving advice to investors don’t know enough about the company, what it sells, and how it does business.Despite Services doing very well and hitting a record high, Wall Street wasn’t pleased with Apple missing the arbitrary sales targets it set for the iPhone. It may have been disappointed with iPad sales too, as that missed Wall Street’s mark like it normally does.After a flurry of buying pre-earnings statement, investors and funds sold the stock, like they nearly almost always do. As a result, Apple will — on paper — fall below the $3 trillion valuation that it hit on June 30. …

Source:: Apple Insider