AAPL shares close below $100 for first time in 15 months amid China and ‘peak iPhone’ fears
Apple shares yesterday closed below $100 for the first time in 15 months, the WSJ noting that the value of the company has dropped by $100B in a little over a month, losing 7% this week alone.
The Cupertino company’s 4.2% drop on the day was greater than the overall market’s slide and the 3% slump in the Nasdaq Composite, which closed down 10% from its May peak. Since early December, Apple has shed $100 billion in market value.
The slide is being attributed to two factors: one (semi-)factual, one speculative …