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Apple shares tank as tech giant’s growth slows
http://www.euronews.com/ Apple shares closed down more than 12 percent on Thursday, slicing more than fifty billion dollars from the company’s value.
The market’s disappointment is no surprise, as the tech giant posted its slowest profit growth since 2003 on Wednesday.
The sell off was sparked by fears that Apple is losing its dominance in smartphones. Customers are switching to rivals such as Samsung, which offer more variety and bigger screens.
Apple’s poor results also come despite the launch of the iPad.
As the the iPhone, the company says it shipped a record forty seven point eight million in the December quarter, but that was well below analysts’ forecasts.
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