Sign in to comment!

Menu
Home

Economy

Apple shares plunge as growth appears to stall; Exxon within spitting distance of market cap

Apple shares are plunging after the company reported quarterly results that point to growth slowing after five blowout years.

The stock was down $50.68, or 9.9 percent, at $463.32 in late morning trading.

Even with the stock's decline, Apple Inc. is the world's most valuable company, a position it's held for more than a year. But it's now worth just 4 percent more than No. 2 Exxon Mobil Corp.

Late Wednesday, Apple reported October-December earnings that were flat compared with the year before. It predicted sales growth for the current quarter of around 7 percent — far from the 50-percent-plus rate it's often hit in recent years. Analysts believe Apple is unable to fully capitalize on the global smartphone boom with just one new — and very expensive — phone model every year.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.17% dw 4.24%  
15 Y Fixed Graph 3.26% dw 3.30%  
30 Y Fixed Jumbo Graph 4.58% dw 4.66%  
5/1 ARM Graph 3.33% dw 3.42%  
5/1 Jumbo ARM Graph 3.73% dw 3.88%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.29% -- 4.29%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 5.09% -- 5.09%  
$50K Loan Graph 4.52% -- 4.52%  
$75K Loan Graph 4.52% -- 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% dw 3.47%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 2.99% up 2.98%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.69% -- 0.68%  
5 yr Graph 1.39% -- 1.39%