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 3.95% dw 4.15%  
15 Y Fixed Graph 3.05% dw 3.11%  
30 Y Fixed Jumbo Graph 4.53% up 4.22%  
5/1 ARM Graph 3.71% up 3.19%  
5/1 Jumbo ARM Graph 3.38% up 3.19%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.31% up 4.30%  
$50K HELOC Graph 4.06% -- 4.06%  
$30K Loan Graph 5.05% dw 5.08%  
$50K Loan Graph 4.49% dw 4.50%  
$75K Loan Graph 4.51% dw 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% -- 2.94%  
36 M Used Graph 3.46% -- 3.46%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 3.04% -- 3.04%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% -- 0.38%  
1 yr Graph 0.71% -- 0.71%  
5 yr Graph 1.50% dw 1.52%  

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →