Apple announced their Quarterly Results earlier today, with record quarterly revenue of $55bn – which resulted in a 12% drop in the share price. Strange logic, but apparently markets expected much more growth, so continued the recent sell-off, at an even faster rate.
Apple shares are currently around the $450 mark, having started the day over $500 apiece.
Today’s fall was equivalent to a drop of around $50bn off the value of Apple, which is vastly more than the value of most of their competitors.
(Part of the market’s disappointment was with iPhone 5 sales, hence the nice iPhone 5 picture above)
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