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.

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.