Apple Inc. Drops Below $100 A Share, Completely Recovers During Wild Morning Of Trading
CUPERTINO (CBS SF) - Earlier Monday, the Wall Street selloff send Apple Inc. shares below $100 for the first time all year, earning a label as one of the stocks "absolutely crashing the DOW." However, by 9:30 a.m., the stock had completely rebounded and had gained ground.
The day started with (AAPL) as one of the Bay Area stocks taking the worst of it on the NASDAQ. Here's what the weekly stock chart looked like at that point:
An hour later, the situation had improved dramatically:
Here's where AAPL currently stands.
The DOW's record intraday plunge saw big for many other blue chips, but the pain was felt across the market. The drop followed huge losses in Chinese stocks. The benchmark Shanghai Composite Index fell by 8.5%, its biggest margin in 8 years.
After the 1000-point slide, losses were cut in half, but volatility continued to spike at all-time highs.
Apple wasn't alone in the rebound, Intel (INTC) also saw gains as the market rebounded to a range where the day-over-day losses were similar to those we saw during last week's selling.