Apple shares fall

Apple shares fall
# 05 March 2013 09:59 (UTC +04:00)

Baku – APA-Economics. Apple's market cap a measure of the value of a company -- is now below $400 billion. The company passed the milestone as Apple's shares fell 2 percent in trading this morning and the decline continued through the day to a closing price of $420.05, a drop of 2.4 percent from Friday's closing price. At that share price, Apple's market cap is now $394.45 billion. The company's valuation hasn't been that low since late 2011.

Apple's share price has been on a steady decline over the last several months. In the last six months alone, the price has gone down more than 37 percent. Its 52-week high of $705.07 seems like a distant memory at this point.

While Apple’s stock declines, Google’s stock keeps zooming the other way.

If you go back six months, changes in the two companies’ share prices seem to be almost in lockstep, but heading in opposite directions. Overall, Google is up 20.6 percent, while Apple is down 37.8 percent.

As of today, at a market cap of $400 billion, Apple is no longer the most valuable company in the world. Google, meanwhile, hit an all-time high of $822.84, closing the day at $821.50 for a gain of 1.9 percent.

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