Apple’s (AAPL) seven-month slump deepened on Wednesday as the former tech darling tumbled below the $400 threshold for the first time since late 2011 amid jitters about shrinking iPad shipments.
The latest retreat for the consumer electronics behemoth leaves its stock down more than 24% so far this year and its market capitalization below the $400 billion level.
Apple shareholders were spooked by a report in closely-watched Taiwanese paper DigiTimes that revealed iPad mini suppliers are bracing for a 20% to 30% tumble in shipments in the second quarter as consumers put off purchases ahead of the next generation of devices.
A spokesperson from Apple declined to comment on “rumors.”
Read also:
iPad Mini Shipments Are Expected To Drop 20%-30% This Quarter, Says … (Business Insider)
Unofficial iPad Cases Reveal Upcoming Redesign (IGN)
iPad Mini Demand Falls As Fans Await New Model (Cult of Mac)
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