Apple Knocked From $250 After Hours
CUPERTINO, Calif. (TheStreet) -- Even Apple (AAPL) - Get Apple Inc. Report, tech's most beloved stock, wasn't immune from today's down- market affliction that saw the Nasdaq plunge to almost flash-crash levels.
For the first time since July 19, Apple's share price fell below $250 in after-hours trading. At 6 p.m. ET, just as fellow tech giant
Cisco
(CSCO) - Get Cisco Systems Inc. Report
reported lighter-than-expected fiscal fourth-quarter earnings, Apple shares were falling 1.18% to $247.25.
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On July 19, Apple's share price fell to $245.58.
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The entirety of tech was down today due to a growing climate of economic uncertainty. With the odds of a double-dip recession increasing, stocks closed sharply down thanks to news that the U.S. trade deficit unexpectedly grew in June and that the
Federal Open Market Committee
downgraded its economic outlook.
The
Nasdaq
closed lower by 69 points, or 3%, at 2209.
--reported by Maggie Overfelt in New York
