iPhone 5

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)

Read All About It:  BBC  Reuters  Bloomberg