Apple's price hikes fail to impress Wall Street as stock drops 5%
By
Zac Hall
Summary
Apple raised prices across multiple product lines (Macs, iPads, etc.), citing rising RAM costs. However, Wall Street reacted negatively, with Apple's stock dropping 5% (a 15.49-point decline). The price hikes were first signaled by CEO Tim Cook in a Wall Street Journal interview. The article notes Cook is leaving the CEO role but staying as executive chairman.
Source
bskyApple's price hikes fail to impress Wall Street as stock drops 5%9to5mac.comKey quotes
· 3 pulledWall Street isn't buying Apple's unprecedented price hikes on products
Apple's stock is trading down 5% today, a 15.49-point drop, after increasing prices on existing Macs, iPads, and other products.
While rising RAM costs are to blame, according to Apple, Wall Street isn't too impressed with the move.
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