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Apple Falls After Consumer Reports Won’t Back IPhone

Apple Inc. declined a day after Consumer Reports said it wouldn’t recommend the iPhone 4, fueling concern that demand for the smartphone may drop and speculation that the handset may be recalled.

Apple fell $5.49, or 2.1 percent, to $251.80 at 4 p.m. New York time in Nasdaq Stock Market trading. The stock, up 19 percent this year, has dropped 7.1 percent since June 23, the day before the iPhone 4 was released.