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Apple shares drop 20 percent from peak

7:25 AM, Nov 8, 2012   |    comments
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NEW YORK (AP) - Apple's stock is in its own bear market.

The stock of the world's most valuable company has now fallen more than 20 percent from its all-time high of $705.07, hit on Sept. 21. That was the day the latest iPhone went on sale.

The sell-off comes as Apple readies other new products for sale, including the iPad Mini. The Cupertino, Calif., company warned late last month that the costs of making new gadgets would cut into profit in its holiday quarter.

Apple still enjoys the world's heftiest market capitalization, or the total value of its stock.

Apple shares dropped nearly 4 percent Wednesday to $558.






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