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.