Tech

Apple Shares Hit 52-Week Low

View Comments
The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco. (Justin Sullivan/Getty Images)

The new iPhone 5 is displayed during an Apple special event at the Yerba Buena Center for the Arts on September 12, 2012 in San Francisco. (Justin Sullivan/Getty Images)

CUPERTINO (CBS/AP) — Shares of Apple hit their lowest level in more than a year on Monday, continuing a decline hastened by the company’s last quarterly earnings report.

Apple Inc. stock touched as low as $419 Monday — its weakest point since January 2012 — before closing down 2.4 percent at $420.05.

The Cupertino company’s Jan. 23 report signaled that its fast growth phase, rare for a company of its size, may be coming to an end.

Apple’s stock price peaked in September at $705.07 on the day the iPhone 5 was released. With Monday’s close, the stock has dropped 40 percent from the record high.

 

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 56,781 other followers