Apple's late iPhone launch temporarily wiped $100 billion off its stock value3 min read 30 Oct 2020, 08:29 AM IST
Apple's shares have soared in the past two years as it has diversified its revenue streams to lessen its dependence on the iPhone
Apple fell over 5% at one point in after-hours trade, wiping $100 billion from its stock market value
The late launch of new 5G phones caused Apple Inc's customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years.
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