Apple Tumbles To New Closing Low - Stock Now Down 27% From PeakSubmitted by emalvini on Fri, 12/28/2012 - 17:49
Apple Tumbles To New Closing Low -- Stock Now Down 27% From Peak
December 28, 2012 38 minutes ago
Apple stock got hit again today, falling 1% to $509.
That's the lowest close since the stock began its recent slide in September.
Apple is now down 27% from its peak.
Apple's market value has now lost about $175 billion. Thanks to Apple's massive size, that's more money than investors in Hewlett-Packard and Research In Motion have ever lost in those two stocks combined.
Of course, Apple has only fallen to a level that it first breached on the way up last winter. The stock is still up sharply this year, having entered the year at about $400.
What's going on?