After the shifts in management this week at Apple, the stock is taking a bit of a hit today. As of the writing of this article, Apple, Inc. (AAPL) is sitting at 596.00, dropping 8 points for a loss of -1.32%.
The management adjustments, outlined in an Apple press release, include promoting Jony Ive, who previously led the hardware design team, to a position overseeing all of design, including the software side that Forstall had been in charge of. In an email announcing the changes to Apple staff Tim Cook said they would “encourage even more collaboration between our world-class hardware, software and services teams at all levels of our company.”
Apple’s share price had fallen back into correction territory last week, and is down over 15% since its peak on September 21st, the iPhone 5 launch date.
Despite a “soft” earnings report last week, many investors and analysts are still bullish on the company moving forward.
“One key off the Apple earnings report that was overlooked is their costs per unit haven’t accelerated,” says Brian Sozzi, chief equities analyst at NBG Productions. “That’s encouraging to see and I like that looking ahead to 2013.”
