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Apple stock drops into $400-range despite explosive iPhone 5 debut in China

Apple Stock Drop

Apple (AAPL) on Sunday evening announced that it sold more than 2 million iPhone 5 handsets during the phone’s opening weekend in China. The news put an end to speculation that China was giving Apple’s latest smartphone a chilly reception, however it wasn’t enough to put an end to investor concerns amid a new round of price target cuts. For the first time since February, shares of Apple stock fell into the $400-range in pre-market trading on Monday on concerns from a number of institutions that iPhone and iPad demand will not be as strong as they initially thought. Apple shares were down 2.12% from Friday’s close to $499.00 at the time of this writing.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.