Apple shares drop 20 percent from peak

Nov 07, 2012
Apple shares drop 20 percent from peak Enlarge
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: Apple stock hits new high after 4-month dip

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Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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User comments : 2

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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.

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