By Sam Gustin
Apple may be the world’s most celebrated electronics company, but its formerly high-flying stock price has plummeted to Earth over the past six months, declining 40% since last September. On Wednesday, that trend continued when Apple shares tumbled 5.5%, briefly pulling company shares below $400 for the first time since December 2011, and wiping out more than $20 billion in shareholder value.
Wednesday’s decline was apparently triggered by a disappointing sales forecast from one of the company’s key suppliers, which fueled fears of weakening demand for Apple’s signature iPhone and iPad products — and added to growing concern about a weakening global electronics market. Apple’s dramatic stock slide has cost the company the title of the world’s largest company by market capitalization, a distinction that once again belongs to energy giant Exxon Mobil.
The question now is whether Apple shares are likely to keep falling.
Read Full story @ Time
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