Apple shares tumble to lowest level since 2011

Apple shares fall below $400

Apple shares were absolutely pummeled right out of the gate on Wednesday, and the stock has since fallen below $401 for the first time since 2011. Concerns over the company’s slowing growth sent Apple screaming downward after reaching an all-time high this past September ahead of the iPhone 5′s debut. Apple shares have lost more than 35% of their value since then, and the stock was down almost 6% to $400.71 during Wednesday afternoon’s session. Shares have since recovered slightly to $402.60.

UPDATE: Apple shares have fallen below the $400 mark, hitting $389.11 at 12:51 p.m.

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