Apple shares drop 20 percent from peak
Apple's stock is falling along with a sell-off in the broader market just as the companyreadies other new products for sale, including the iPad Mini.
NEW YORK -- Apple's stock is falling along with a sell-off in the broader market.
The stock of the world's most valuable company has now fallen more than 20 percent from its all-time high of $705.07, hit on Sept. 21. That was the day the latest iPhone went on sale.
The sell-off comes as Apple readies other new products for sale, including the iPad Mini. The Cupertino, Calif., company warned late last month that the costs of making new gadgets would cut into profit in its holiday quarter.
Apple Inc. still has the world's heftiest market capitalization at $548 billion. Oil giant Exxon Mobil Corp. is next, at nearly $418 billion.
Apple shares are down 3.5 percent to $559.86 in midday trading Wednesday. The tech-heavy Nasdaq composite index is down 2.6 percent.
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close