Apple sees largest share drop in four years


Apple’s shares fell 6.4 percent yesterday, with one possible explanation being increased competition from Google

Apple saw its largest share drop in four years yesterday, as they fell 6.4 percent to $538 (£334).

Shares are down almost eight percent since Monday.

Analysts said the fall could be due to diminished expectations that Apple would issue a special dividend before the end of the year.

BGC partners technology analyst Colin Gillis said that increased competition from Google could also be to blame.

Gillis said: “With an expectation that the current line-up of Apple products will not be refreshed any time soon, investors are concerned about a product vacuum after the holidays.”

Today it was also revealed by research firm IDC that Apple’s rank in the Chinese smartphone market – expected to become the world’s largest soon – fell to sixth in the third quarter due to increased competition from Chinese brands.