Fueled by concerns that iPhone 5 demand has weakened, investors are abandoning Apple,sending the company’s stock under the $500-per-share mark, TechCrunch reported. “Apple’s shares took a substantial hit yesterday after reports broke that Apple had cut display orders in half for the current quarter, indicating lessening demand. The stock ended yesterday at $501.75, a drop of 3.57 percent,” the site added.
Apple is scheduled to report Q1 2013 earnings result on January 23.
Read the full story here and check out Apple’s stock performance from the last year.