628.10
-12.81 (-2.00%)
| Range | 628.10 - 647.20 |
| 52 week | 363.32 - 705.07 |
751.48
+6.92 (0.93%)
| Range | 750.29 - 758.50 |
| 52 week | 544.63 - 774.38 |
Of course, today's huge drop is in large part because a federal appeals court rejected a lower court injunction that would have banned the Galaxy Nexus in the US. It would represent a series of slaps in the face for Apple's case against Samsung (and Google), preceded by a critical review of the bias of the juror foreperson in Apple vs Samsung, and the reversal of a ban on Samsung's Tab 10.1 tablet sales in the US.
So let's go back to before the Apple-Samsung ruling. Apple stood at $663 and Google was at $678. And that was before the iPhone 5 came out.
That's not to say that Apple was overvalued; they're probably undervalued, from an investor's view. Apple's EPS is higher than Google's; their P/E ratio is significantly lower; and Apple's earnings are nearly triple that of Google's. I think everyone knows the stock will bounce back a little, as bargain shoppers will jump in ahead of any iPad Mini announcement.
It does seem that these lawsuits have only served to distract Apple.
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