Apple shares drop 20 pct since September record high
London, Nov 8 (ANI)
Apple's shares slumped almost four percent at one point in trading on, marking a five-month low, according to a report.
Over 130 billion dollars have reportedly been wiped off the value of Apple in less than two months after the iPhone marker's shares dropped.
According toTthe Telegraph, the latest fall took total losses since Apple's share reached an intra-day high of 705 dollars on September 21, the day when the iPhone 5 went on sale, to 20 percent.
Apple, which is facing growing competition from rivals such as Samsung, currently has a market capitalisation of 528 billion dollars, down from over 660 billion dollars just seven weeks ago.
Shares are typically described as having entered a bear market when they lose about 20 percent of their value, the report said.