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Apple Stock Hit Hard Due To Celebrity Photo Scandal

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WOW!!! Today was a rough day for Apple and it’s shareholders. The iCloud photo scandal cause a sudden fall in the stock and has many analyst tell holders to sell.

Rough times for Apple — suddenly. 

The stock fell ~4.22% today, dropping to $98.94.

There are two reasons for the stock to be tanking: the iCloud photo scandal, and a note from Pacific Crest analyst Andy Hargreaves telling investors to sell Apple shares.

Last week the company was flying high as anticipation built for the iPhone 6, and the iWatch, which are both expected to be announced next week. The stock was hitting new all-time highs, trading up to $103.20, but today it’s back under $100.

It all came to a screeching halt over the weekend for Apple when nude photos of celebrities hit the web. Apple’s weak security on iCloud, where the photos were backed up, was blamed for the photos hitting the web.

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I definitely see celeb’s suing Apple in the near future as this drama continues to unravel.

About Will Jay

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