GO
Loading...

Apple's Stock Mysteriously Drops Sharply

Apple shares sold off sharply on Tuesday in afternoon trading on no apparent news.

The stock fell about 2.5 percent on heavy volume to around $443 in afternoon trading while the Dow and the Nasdaq remained positive.

(Read More: S&P, Dow at Record Highs; Apple Tumbles 2.5% )

While there is no evidence as to what caused the decline, there was a report published on MarketWatch Tuesday morning that quoted an David Trainer, president of New Constructs, a Nashville-based research firm, as saying that Apple shares are worth $240.

Apple is expected to release a line of new products, including its next generation iPhone and iPad, this Fall. However, the company is widely believed to also be unveiling a product in an entirely new category at the end of the year which many speculate is a smart TV.

Squawk Alley