Apple Heads to 7-Month Low as More Analysts Cut iPhone Estimates
This article is for subscribers only.
Apple Inc. fell on Friday, with shares on course to close at their lowest level since April, as more analysts joined the chorus of bears and skeptics warning about the prospects for iPhone sales.
The stock dropped as much as 2.9 percent, and shares are on track for their 10th negative week of the past 11. At current levels, Apple is down more than 28 percent from an October record, a collapse that cost the company its title as the largest stock by market capitalization.