Shares of Apple are on a winning streak, but what could sour the technology giant’s juicy run?
Apple’s share price hit the $600 market for the first time this week ahead of Friday’s release of the new iPad. It closed above $500 for the first time on Feb. 13, and just before Christmas, on Dec. 23, it closed above the $400 mark for the first time.
In fact, Apple’s shares are up 371 percent since the first iPhone was released in June 2007. And after such a strong run of gains, bears are saying the company’s shares have moved too far, too fast and are due for a correction.
CNBC’s Seema Mody reports that potential headwinds for the stock include high expectations for the new iPad, which could mean a hit to the stock if it doesn’t deliver. Similarly, any glitch in the operation of the device, or a disruption to supplies from China, could be a negative for the stock if they upset Apple customers.
There could also be an impact on the broader market. So far this year, the S&P 500 technology sector is up 19 percent, but without Apple’s contribution it would be up just 14 percent, Mody reported.
Share your thoughts on this story on our Facebook page.
