Apple Inc. (NASDAQ:AAPL) Shares Retreat To One-Month Low Profit Booking

Apple Inc. (NASDAQ:AAPL) Shares Retreat To One-Month Low Profit Booking

Apple Inc. (NASDAQ:AAPL) shares have been under selling pressure over the past few trading sessions and is down for the fifth straight session by 3.45%  to one-month low of $584.70 viagra generico portugal. Over the past one week, the stock has fallen about $50 or 8% from its record high of $644, made last Tuesday.

However, the latest fall in the stock was in absence of any news, but the stock arguably have been vulnerable to profit taking after a hefty rally since the beginning of this year, which drove the stock all the way from $400 to $644, a rise of about 60% in just over a quarter. The recent rally made Apple Inc the world’s largest company by market value.

Early March, the company introduced the new touchscreen tablet, which adds a faster processor, high-resolution display and support for high-speed wireless networks. The company sold over 3 million in the weekend after it was released.

This morning, the company said that its third-generation iPad, released in the U.S. and nine other countries last month, will start being sold in an additional countries 21 countries this month.

Consumers in South Korea, Brunei, Croatia, Cyprus, Dominican Republic, El Salvador, Guatemala, Malaysia, Panama, St Maarten, Uruguay and Venezuela can buy the tablet starting on April 27. Users in India, Israel, Colombia, Estonia, Latvia, Lithuania, Montenegro, South Africa and Thailand will have to wait until April 27.

Sales of the iPad, which accounts for about 20% of Apple’s total revenue, are expected to help drive a 47% jump in sales in the quarter ended in March, to about $36.3 billion (though some analysts are predicting sales as high as $41 billion.)

The next trigger for the stock could be its upcoming March quarter results, which are scheduled after the close on April 24. Analysts are estimating the company to report a profit of $9.89 a share, up from its year ago profit of $6.40 a share. Revenue is estimated to grow by 47% to $36.27 billion, from $24.67 billion a year ago.

The stock is trading above its 50-Day Moving Average of $582.57, which could act as a short term support.