Why Abbott Laboratories Stock Sank Today
Companies that make glucose monitoring devices were under strain in the stock market Wednesday. While this isn't a monster part of Abbott Laboratories' (NYSE: ABT) business, the company did suffer from guilt by association. A tech giant, it seems, might be coming for its market share. And as a result, Abbott's share price sagged by nearly 1% today.
This morning, citing unnamed "people familiar with the matter," Bloomberg reported that Apple (NASDAQ: AAPL) is developing noninvasive glucose monitoring. Apparently the aim is to incorporate such a function into the Apple Watch.
Regular glucose monitoring is essential for people who suffer from diabetes -- a widespread disorder, particularly in the U.S. Classic glucose monitoring involves pricking the skin for a small blood sample.
Source Fool.com
