Apple's and Google's stock falling like crazy...what's happening?

[Dolorian]

For Apple, as of now the stock is at $537.75 and has been falling a lot on a near daily basis over the last two weeks. Yet Apple released a lot of new stuff over the last two months including the iPhone 5 and the iPad mini, all of which have been selling out.

Same with Google, their stock is at 652.29 and has been falling over the last week yet they recently revamped their Nexus line and are putting out a new update for Android.

So, what is happening? Why is the stock price of both companies dropping so much and so fast? Shouldn't it be going up or at least holding steady? Why are both companies dropping so much? Both companies were high in the 700s less than a month ago but that has quickly changed.

I am no expert when it comes to stock, so for those that know, what is driving this?

 

[basesloaded190]

The market, fear of tax changes, and uncertain economic futures.

I have to imagine many people are selling off before the end of the year to realize their gains in case the capital gains tax changes.

 

[notjustjay]

So many factors.

The economy in general.

The election (and Obama's reelection).

Profit taking (end of year)

In Apple's case, the recent management shakeups (Scott Forstall leaving).

Also the fact that it was probably way overvalued to begin with. $700? That's crazy!

 

[MacsRgr8]

Also the fact that it was probably way overvalued to begin with. $700? That's crazy!

I thought that when it past the $ 400 mark.... and the $ 500, etc...