Apple shares tumble 4 percent in heavy trade

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    Anonymous

    Technology News

    Customers gather outside an Apple store before the release of iPhone 5 in MunichNEW YORK/SAN FRANCISCO (Reuters) – Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market. The stock was one of the biggest percentage losers on the S&P 500, dropping 5.2 percent to $545.56 at one point as more than 17 million shares changed hands, putting it on track to surpass the company's average daily volume over 50 days of 21 million shares. The stock's massive size meant the retreat was responsible for two-thirds of the 1. …


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