With a stock price hovering around $640, you wouldn't think Apple would have much to worry about.
But there is some concern among investors – after the iPhone-maker peaked at $702 on Sept. 19 – that Apple might already need another product launch to renew the company's momentum; fortunately, that launch could be just around the corner.
An announcement about the iPad mini – a smaller (7.85-inch) version of the company's iconic tablet – is expected any day now. It was widely anticipated that the company would send out invitations by the close of business Wednesday for an event announcing the new device on Oct. 17. Further speculation is that the iPad Mini would go on sale in early November, CNN Money said last week.
More speculation that emerged today is that the new version of the iPad won't come with 4G LTE connectivity; in fact, it'll be Wi-Fi only, The Guardian reported. A series of photos of the new iPad were also leaked to various media outlets today.
With natural market fluctuations, particularly considering a company with a stock price as high as Apple's, it might be a little premature to say the Silicon Valley giant has any real reason for concern. But there could be a whole host of reasons for the flattening numbers, including a reported shortage of iPhone 5s based on production problems in Asia, and the increasing competition from Android-based device manufacturers like Samsung.
Apple stock fell to $625 on Tuesday morning before it closed up about 1 percent on Wednesday, at $641 – that's down about 9 percent from last month's high. That's still a whopping 65 percent higher than where it was a year ago.