Apple shares drop 20 percent from peak

Nov 07, 2012
In this Friday, Nov. 2, 2012, file photo, An Apple specialist hands over the new Apple iPad mini to be purchased at an Apple store, in San Francisco. Apple's stock is falling along with a sell-off in the broader market on Wednesday, Nov. 7, 2012. 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. (AP Photo/Eric Risberg, File)

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 at $548 billion. Oil giant Corp. is next, at nearly $418 billion.

Apple shares are down 3.5 percent to $559.86 in midday trading Wednesday. The tech-heavy is down 2.6 percent.

Explore further: Amazon launches 3D printing store

5 /5 (6 votes)
add to favorites email to friend print save as pdf

Related Stories

Apple stock breaks $500 level, continuing rally

Feb 13, 2012

(AP) -- Apple's stock broke above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.

Apple stock hits new high after 4-month dip

Aug 17, 2012

(AP) — Apple's stock hit a new high Friday after a four-month swoon, as investors looked ahead to the release of a new iPhone and possibly a smaller iPad.

Apple shares soar, edges ExxonMobil in market cap

Jan 25, 2012

Apple shares soared on Wednesday following blockbuster quarterly earnings and the California gadget-maker leapfrogged over ExxonMobil to become the largest US company in terms of market value.

Recommended for you

Amazon launches 3D printing store

3 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

8 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

11 hours ago

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

VendicarD
2.6 / 5 (5) Nov 07, 2012
Die Apple.. Die....

Filthy Fascist Company
FrankHerbert
2 / 5 (4) Nov 07, 2012
Lol it's a double whammy for Noumentard today.