Shares of Apple, one of the world’s top companies in terms of market capitalization, dropped to their lowest price in six months, data showed Wednesday.
According to Bloomberg, Apple’s stock price closed at $114.64 on Nasdaq Tuesday local time, a 3,2 percent decline from the previous day, and a 13.2 percent decrease from July 20, when the stock price was $132.07.
Apple’s market cap at that point was $760.8 billion, and has since dropped to $657.6 billion, its valuation falling by $103.2 billion.
Apple’s stock price has dropped for five days in a row since July 29.
This is the lowest price since closing at $115.31 on Jan. 28 this year.
Experts said that Apple’s stock price fall is due to the lower than expected sales of iPhones in Q2, as well as its lackluster performance in the Chinese market.
