“U.S. stocks rose on Thursday after encouraging U.S. economic data, but Apple Inc. pressured the Nasdaq Composite after the iPhone maker’s quarter results spooked investors,” Polya Lesova reports for MarketWatch.
“Apple shares [AAPL] sank 11%, making the company the top decliner in the S&P 500. The tech behemoth late Wednesday reported first-quarter sales that fell slightly short of Wall Street targets, while iPhone sales were on the low side of expectations,” Lesova reports. “The decline for Apple hit the Nasdaq Composite, which dropped 14.5 points, or 0.5%, to 3,138.80.”
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Laura Mandaro reports for MarketWatch, “Apple Inc. shares dropped 12% at the start of trading Thursday, triggering a stock exchange circuit breaker designed to slow short sales of falling stocks. Shares of the company, the largest by market capitalization on the S&P 500 and Nasdaq Composite, traded at $453.27, off $60.74 from $514.01 Wednesday.”
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