Investors are selling off Apple Inc. stock amid concerns that demand for iPhones may be falling, wlwt.com reported.
Apple?s stock price fell below $500 per share and closed below that price for the first time since February 2012.
Apple shares dropped below that mark on Monday, but closed ended the day above the $500 mark. The selling started Monday on news that the company had cut orders for certain iPhone parts due to weaker-than-expected demand for its popular smartphone.
Tuesday, selling continued as analysts at Nomura Securities lowered their earnings estimates for Apple.
Source: http://feedproxy.google.com/~r/vertical_46/~3/vUl09R9NgtE/apple-stock-falls-investors-worried.html
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