# In an op-ed, Prof. Aswath Damodaran explains the fluctuations in Apple's stock price

1 News January 28, 2013 ![CNN logo](/sites/default/files/styles/246w/public/assets/images/uat_027323.jpg?itok=3feg8BmM)>

Excerpt from [CNN](http://www.cnn.com/2013/01/28/opinion/damodaran-apple-stocks/) -- "How can a company fall from grace so quickly, especially when it still possesses enviable profit margins and perhaps the most valuable franchise in the world? The answer lies in recognizing that a market price is set by demand and supply, which, in turn, are driven not only by underlying value but also by other factors including hope, hype and momentum."

[Read more](http://www.cnn.com/2013/01/28/opinion/damodaran-apple-stocks/)