Reuters: Technology News: Apple's market cap falls below $500 billion as shares keep falling

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Apple's market cap falls below $500 billion as shares keep falling Dec 6th 2012, 15:05 Tweet Share this Email Print Related News Wall Street opens flat, fiscal talks in focus 10:10am EST Apple's shares swallow biggest loss in four years 3:07am EST Dow, S&P rise, but Nasdaq sours with Apple in wild day Wed, Dec 5 2012 Wall Street ends flat as "fiscal cliff" focus lingers Fri, Nov 30 2012 Apple has top U.S. smartphone, passes Google: research firm Tue, Nov 27 2012 Analysis & Opinion Apple and Motorola talk arbitration. End in sight to patent war? Related Topics Investing Simplified » Tech » Hot Stocks » Asian Markets » Customers gather outside an Apple store before the release of iPhone 5 in Munich early September 21, 2012. Credit: Reuters/Michael Dalder By Angela Moon NEW YORK | Thu Dec 6, 2012 10:05am EST NEW YORK (Reuters) - Apple's market capitalization fell below $500 billion on Thursday as shares of the world's most valuable listed company continued to slide after suffering their worst one-day decline in nearly four years. Shares of Apple Inc fell to as low as $518.63 on Thursday, declining nearly 10 percent for the week. But for the year, the stock is still up more than 30 percent. At its peak in September the stock was worth $705.07. Earlier in the day, research firm IDC said Apple's rank in China's smartphone market, which is set to become the world's largest this year, fell to No.6 in the third quarter as it faced tough competition from Chinese brands. IDC's announcement comes a day after Apple's shares fell more than 6 percent on the Nasdaq, logging its biggest single-day loss in four years and losing $35 billion of its value, on concerns about rivals gaining ground in the mobile devices market. (Reporting by Angela Moon and Rodrigo Campos; Editing by James Dalgleish) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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