What A High Beta Means For Apple

Apple (AAPL) closed April 16 at $580.13, down 10% from its all-time high of $644. It is now down for five consecutive days, something that hasn't happened since last October. What is behind the selloff and what does it mean for the stock?

In one of my previous articles, I argued that Apple might have become a speculative stock. Today I must ask the same question I asked a week ago: What do we know today that we didn't know a week ago? What caused the stock to lose $65 billion in market cap in just one week? The obvious answer is: speculation.