November 19th, 2012, 05:18 AM
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Utility Bot
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Join Date: Feb 2005
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High-flying Apple falls to earth as investors fret over taxes
NEW YORK (Reuters) - Gravity has taken hold of Apple, and a lot of investors have been smacked on the head. Apple Inc, the largest U.S. stock by market value, was headed toward its eighth straight week of declines on Friday, as the rush to secure profits before a potential hike in capital gains taxes next year has investors dumping the market favorite. Since hitting a record high of $705.07 a share in September, Apple has lost about a quarter of its value. The stock's descent has vastly outpaced those of the S&P 500, which is down just under 7 percent in the same time frame. ... View the Entire Article
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