FILE - In this Oct. 20, 2012 photo, people line up to enter a newly-opened Apple Store in Wangfujing shopping district in Beijing. Apple's profit surge halted in the latest quarter, as a flood of new products like the iPhone 5 meant high start-up costs for new production lines. Apple posted net income for the October to December quarter that was flat with the year before. It was the first time in years that Apple didn't post a double-digit earnings increase. (AP Photo/Andy Wong, File)
Apple stock hits latest 52-week low
Published: 09:53:04 PM, Mon 04 March 2013 UTC
NEW YORK (AP) — Shares of Apple hit their lowest level in more than a year on Monday, continuing a decline hastened by the company's last quarterly earnings report.
Apple Inc. stock touched as low as $419 Monday — its weakest point since January 2012 — before closing down 2.4 percent at $420.05.
The Cupertino, Calif., company's Jan. 23 report signaled that its fast growth phase, rare for a company of its size, may be coming to an end.
Apple's stock price peaked in September at $705.07 on the day the iPhone 5 was released. With Monday's close, the stock has dropped 40 percent from the record high.
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