The share prices of Apple Inc. (NASDAQ:AAPL) dropped by 3.6 percent to reach $427.80 and had lost nearly 7.8 percent in the recent week after jumping to three month high. This drop in share prices had led the company to drop to level below its 50 day moving average of $434.87, which is commonly used by technical analysts to gauge the intermediate trend in the share price movements.
Google’s music service system
The newly introduce, subscription based music service system of Google Inc. (NASDAQ:GOOG) had led the share prices of Apple Inc. (NASDAQ:AAPL) to drop to such low levels. The music service system with more than million songs to entertain the users is now available at $9.99 per month. This subscription based service can be integrated to Google Inc. (NASDAQ:GOOG)’s Web browsers as well as Android based mobile devices.
The unveiling of music service system is part of the product enhancements that the world’s most popular search provider is planning for its users this year. Competition for Apple Inc. (NASDAQ:AAPL) is thus very intense pushing it to improve and enhance its products to retain and gain better market share.
With many other product enhancements being planned by Google Inc. (NASDAQ:GOOG), the pressure on Apple Inc. (NASDAQ:AAPL) to work on innovative products to attract new customers is all the more high. The share price of Apple Inc. (NASDAQ:AAPL) had for the first time in a month dropped below the 50 day moving average and had thereby resulted in negative outlook to the stock.
