More Thoughts On Apple's (AAPL) Quick Sell-Off Yesterday

Piper Jaffray analyst Gene Munster sent WSJ's MarketBeat blog some thoughts on why Apple (Nasdaq: AAPL) sold off so hard into the close yesterday. It was widely reported that a possible T-Mobile deal was part of the reason for the selling.

Here is what he said:

"I heard four reasons why the stock got hit. 1.) T-Mobile getting the phone not Verizon 2.) soft retail sales 3.) greater competition from NOK, and 4.) Psystar trademark issues. In my opinion investors were stretching for reasons. None of them seem to have enough weight/truth to justify the drop in shares.

My take, there was a big seller for who knows what reason. People got worried they were missing something, and the stock tumbled. None of the mentioned reasons impact Apple's fundamentals."

Shares of Apple closed down 1.5% yesteday, and are up 0.7% today.

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