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Technology Stocks : Apple Inc.
AAPL 256.97-1.3%2:00 PM EST

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From: Moonray11/7/2012 3:23:56 PM
   of 213181
 
Apple shares drop 20% from peak
Associated Press - Updated On: November 08, 2012 01:17 (IST)

New York: Apple's stock is falling along with a sell-off in the broader 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 September 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 Inc. still has the world's heftiest market capitalization at $548 billion. Oil giant Exxon Mobil
Corp. is next, at nearly $418 billion.

Apple shares are down 3.5 percent to $559.86 in midday trading Wednesday. The tech-heavy Nasdaq
composite index is down 2.6 percent.

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