Citigroup Downgrade Pushes Apple Shares Near $500

The stock, down 28 percent in two months, is still up on the year.
Photograph by Daniel J. Groshong/Bloomberg

Shares of Apple, one of the most popular stocks among retail investors and hedge funds alike, broke through a psychological level this morning by falling to $499 in premarket trading. The stock is down 28 percent from its all-time high of $702 two months ago (but it’s still up more than 25 percent on the year).

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