Apple's Longest Sell-Off Since April Has Cost Investors $107 Billion
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Apple Inc. is headed for its longest losing streak in more than six months as investors reassess the company’s growth prospects amid declining expectations for iPhone sales.
The shares fell 2.5 percent at 1:36 p.m. in New York, extending a five-day slump that would be Apple’s longest losing streak since late April. The stock has fallen 11 percent over the rout, erasing about $107 billion in market value. Apple’s year to date gain is now just 11 percent, down from almost 40 percent in early October.