In a recent bombshell of an announcement, Scott Forstall was asked to leave Apple by the end of the year. In addition to this the John Browett, the guy in charge of the retail outlets was also let go immediately. While John was only recently hired, Scott Forstall on the other hand was a part of Apple for nearly a decade. He was responsible for making iOS the mobile OS it is today. Asking him to suddenly leave must be because of some serious managerial concerns within Apple. And the new Apple stock prices are an indication for just that.
Apple stock price dropped about 2.4% and was trading at $589.60 this morning, which is the lowest price the stock has seen since July. Clearly the investors aren’t too optimistic about Apple’s future at this point. Forbes however reports that there might be other reasons to this. The iPhone 5 hasn’t exactly lived to the expectations analysts had and the whole Maps fiasco didn’t help. There is concern that Apple might loose its edge to companies like Microsoft, Google and Amazon.
Stock prices are quite temperamental. It wouldn’t be too surprising to see them jump back up if Apple reports impressive iPad mini sales.