Apple Shares Drop 2% On First Anniversary Of Jobs Death

By David Zielenziger | October 05 2012 4:54 PM

Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, fell 2 percent Friday, the first anniversary of the death of co-founder and Chairman Steve Jobs.

Reuters

Apple has joined prominent Republicans, ex-military leaders and 60 other US companies, including Facebook, Intel and Morgan Stanley, who have signed on to a filing that will be presented to the Supreme Court in favor of the nationwide legalization of gay-marriage in the United States.

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At the close, shares of the Cupertino, Calif., electronics company fell $14.15 to $652.65, a 2 percent weekly loss and nearly 7 percent below the record high of $705.07 set on Sept. 21.

Analysts continued to be bullish on Apple, though, especially because of the initial success of the new iPhone 5, which only shipped on Sept. 21. Apple closed its fiscal year on Sept. 29 and is scheduled to report results on Oct. 15, when revenue could reach $156.7 billion, more than any technology company has ever reported.

Last year, Hewlett-Packard (NYSE: HPQ), the No. 1 computer maker, reported full-year revenue of $127.24 billion, which still stands as the industry record.