FX.co ★ Apple shares fall below $400

On April 17 Apple shares on NASDAQ were trading below $400 representing the biggest drop since December 2011.
Following the sharp fall in the beginning of the trading day, Apple stock hiked and prior to the closing was fixed at $402.8. On the whole, Apple shares plummeted 5.5 percent posting its sharpest one-day decline since January 24. That was the time when Apple dropped 12 percent after the release of the company's quarterly earnings report.
The Wall Street Journal said that the decline in Apple share prices on April 17 happened right after the release of a gloomy financial outlook by Cirrus Logic, the main provider of chips for the iPhone and iPad.
Traders think this can weigh on retail sales of Apple products in the months to come.
In September 2012 Apple shares reached $700 and began falling during further months. The reason was said to be the company’s growth easing, its new products that were not praised as expected, and an increased competitiveness with other IT giants, such as Google.