Apple stock plunges

 / 24 Jan '13

Apple shares plunged more than 10 percent at the open Thursday as markets reacted to a disappointing outlook from the US tech giant despite its record quarterly profits.

The shares, which had topped $700 last year, slid 10.6 percent to $459 as markets opened. “We don't think the Apple growth story is over but shares will likely languish until confidence is restored,” said Sterne Agee analyst Shaw Wu. - Sapa-AFP

A display for the iPhone 5 is pictured at Apple's flagship retail store in San Francisco, California. Credit: Reuters
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