On Friday, Apple's stock dropped to a new low, raising fresh concerns about the future and financial health of one of the most successful technology companies in recent memory. Apple's stock dropped 2.5%, down to $430.47, and some experts say it will continue to fall this coming week.
This comes after CEO Tim Cook addressed shareholders at the company's annual meeting and told investors he had some new exciting developments in the pipeline to improve stock prices.
The stock has fallen dramatically since September, which was at a soaring $702.10. Just last week, it had fallen by 35% to $443.77 during the investor meeting.
Does Apple need a new product in order to reverse the trend? Now that Google is on the march after unveiling Google Glasses, pressure is on Apple to come up with a new product to stay current and compete. Experts have suggested the company may need to unveil Apple TV, iWatch, or a new version of the iPhone in order to continue to innovate.
Still, the paranoia over Apple may be overstated. The New Yorker's James Surowiecki explains more about the company's recent performance here:
He writes, "Of course, to keep thriving, Apple has to keep innovating, and much of the anxiety about the company stems from a concern that it may finally be “hitting a wall” in that department. But, over the years, predictions that the great ideas engine was grinding to a halt have been surprisingly common. ... the fact that Apple’s epitaph has been written before should make us skeptical of this most recent death knell."