Apple shares continue to slide as stock slips below $500

Apple’s stock continued its downward slide, falling as low as $483.80 in early morning trading on Tuesday. The company reached its all-time high of  $705.07 on September 21, the day it launched the iPhone 5. It’s been almost a year since  Apple’s stock last sold for less than $500 on February 16, 2012.

The latest rumors to plague the Cupertino company suggest it was forced to cut component orders due to lower-than-expected demand for the iPhone 5. This demand argument is up for debate, with some analysts, like Maynard Um of Wells Fargo, saying the idea of a component cut is “not news.”

Apple is slated to announce its quarterly earnings on January 23. Will it be a big day for the Cupertino company or another rung in its climb down the ladder?

[Via Mercury News]

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