Apple Stock Plunges...Again

Apple’s stock fell 4 percent Friday, dipping for the third straight day and hitting lows it hasn’t seen since last February. The reason? The launch of the iPhone 5 in China failed to lure frenzied crowds, and a well-known analyst throttled back some projections for growth, cutting his price target on shares from $780 to $700 and predicting that 5 million fewer iPhones and 2 million fewer iPads will be built in the next three quarters. The good news: the company is still worth about $475 billion.