Apple Shares Take A Dive Overnight

Wall Street analysts are still trying to work out why Apple
shares crashed. The stock dived as much as 6.4% to $111.27 in the first 30
minutes of trading Monday. Trading volume was heavy during the decline, as 6.2
million shares of the stock were traded between 9:49:59 a.m. and 9:50:59 a.m.,
according to FactSet. By around 1:30 p.m., more than 60 million Apple shares
had changed hands, well above the average of 49 million for a full session over
the past month.

Apple shares pared the worst of their losses by early
afternoon but were still on track for their steepest drop since Sept. 25.

The stock was recently down 2.3% at $116.19. The decline in
Apple’s shares is helping fuel the Nasdaq Composite’s 0.9% pullback.