Apple falls into bear market territory

“Shares of Apple, a bellwether for the technology sector, entered a bear market on Wednesday as the decline from its recent all-time high now totals more than 20 percent,” Thomas Franck reports for CNBC.
“Apple, which fell more than 2 percent Wednesday, was last seen trading around $186.70 per share,” Franck reports. “Shares are off their record high of $233.47, clinched on Oct. 3; Apple’s value has dropped to about $886 billion from $1.13 trillion at those October highs.”
“‘It’s like Tim Cook opened up Pandora’s Box by pulling the unit metrics on iPhone shipments,’ Daniel Ives, analyst at Wedbush Securities, told CNBC on Wednesday,” Franck reports. “The iPad maker is morphing from a business propelled by the volume of devices it ships into one that stresses luxury products and software sales. That evolution has been marked by shockwaves for much of the technology space, with several of Apple’s largest semiconductor suppliers noting marked declines in order volume.”
A selection of current Apple products
 
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MacDailyNews Take: No pain, no gain.
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