Thursday, March 17, 2011

Apple Clobbered by Rare Wall Street Downgrade

The world's largest technology company lost about $14 billion of value on Wednesday after JMP Securities' Alex Gauna downgraded the stock, pointing to a sharp pullback in sales growth at Apple's largest Asian contract manufacturer as a sign that business was also slowing at the iPhone and iPad maker.

http://www.reuters.com/article/2011/03/16/us-apple-idUSTRE72F6D420110316