At the opening bell this morning, AAPL was down 5%, erasing about US$15 billion dollars of the company's market value. As of this writing, Apple is trading at $336. It's not time to get out on the ledges, however, as many experts think an expected blow-out earnings call later today could erase the losses.
Of course, the stock value picture is always most interesting over the long run, and will also be impacted by how long Steve Jobs is out on medical leave. Many investors are sitting on the sidelines waiting to see the results of the earnings call, and some are predicting Apple will announce a 50% increase in quarterly sales this afternoon. Other analysts expect lower earnings and revenue.
Apple made the announcement about the medical leave yesterday on a U.S. holiday when American markets were closed. When Jobs announced his previous leave, the stock lost about 8% in two days. Last Friday, Apple stock was at a 52 week high of $340 per share.