*from www.money.cnn.com, April 17, 2013 (To view original article click here.)
Take Away #1: Shares of Apple plunged nearly 6% Wednesday afternoon and hit a new 52-week low of $398.11 in the process.
Key Facts and Figures:
- Shares recovered as the day wore on, but Apple’s stock is now down almost 25% this year.
- Shares of Apple are now more than 40% below the all-time high it hit just last September.
Take Away #2: The catalyst to Apple’s enormous decline on Wednesday appears to be a weak sales outlook from chip company Cirrus Logic after the closing bell Tuesday.
Key Facts and Figures:
- Cirrus is a key supplier to Apple.
- Its audio chips are used in the latest iterations of the iPhone and iPad mini.
- Shares of Cirrus plunged nearly 14% on the news.
*To view original article from www.money.cnn.com click here.