Boston, MA 06/25/2013 (wallstreetpr) – The share prices of Apple Inc. (NASDAQ:AAPL) had further declined continually by 2.65 percent to close at $402.54 per share for the end of trading session on Monday. The shares of the company had recorded a low price of $398.05 per share, thus moving below $400 per share and an high price of $408.66 per share during the day. The shares of Apple Inc. (NASDAQ:AAPL) had recorded 52 week high price level at $705.07 per share and 52 week low price level at $385.10 per share.
The recently initiated investigation claims against Apple Inc. (NASDAQ:AAPL) by the Manhattan federal court for allegations of antitrust charges are pulling the share prices further deeper. In addition, the inventory levels of the smart phone iPhone of the company had been estimated at 10 weeks compared to the typical 4 to 6 weeks inventory levels and this had resulted in slashing down of the estimates for the iPhone.
The two major handsets which had been affected by these glutted inventory levels are the iPhones of Apple Inc. (NASDAQ:AAPL) and the Galaxy 3 of Samsung Electronics Co. Ltd. Further the analysts had also issued cautious estimates against the shares of Apple Inc. (NASDAQ:AAPL) as the company is on its way to add another new version of iPhone 6 which is to be presented with approximately 5 inches display screen.
In addition, the estimates of experts on the financial performance of Apple Inc. (NASDAQ:AAPL) for the third quarter of calendar year had been reduced from $7.64 earnings per share to $7.02 earnings per basic and diluted share. The reduction in revenue estimates of the company had been from $38.3 billion to $36.6 billion for the third quarter.
Apple Inc. (NASDAQ:AAPL) had been witnessing heavy trading volume at 17.17 million shares on Monday, while the average trading volume for the company is at 13.39 million shares per day.
