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Apple stock takes further dive, drops below $400 for first time since December 2011

Apple stock drops below $400 for first time since December 2011

Trace Hagan | Apr 17, 2013 at 2:31 pm CDT (0 mins, 35 secs time to read)

Apple's stock continues to fall as more and more reports of decreased demand roll in. Today, Apple's stock dropped by almost 6 percent, slipping to under $400 for the first time since December 2011. Apple stock has since rallied slightly and is back at $401.70 at the time of writing.

Apple stock takes further dive, drops below $400 for first time since December 2011 | TweakTown.com

A major contributor to today's decrease in value is a report by DigiTimes stating that iPad mini shipments could be down by as much as 30 percent quarter-over-quarter. Another contributor is Cirrus Logic, supplier of the audio chips in Apple products, failed to meet expectations, leading many investors to believe Apple's demand is also down.

We'll know just how bad Apple performed when they release their financial results next week.

Last updated: Apr 7, 2020 at 11:35 am CDT

Trace Hagan

ABOUT THE AUTHOR - Trace Hagan

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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