Apple shares tank, taking stock market down with them

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AAPLclosed

AAPL shares values tanked 3.8% today as PR problems continue to stack up for Apple this week.

The disastrous release of iOS 8.0.1, along with the Bendgate controversy that has left the Internet LOLing has shaken investors’ confidence in AAPL this week, and they’re taking the rest of the stock market down with them.

AAPL shares closed at 97.88 today – down 3.80% – as investors begin to worry that Tim Cook’s version of Apple might be looking a little bit accident prone.

As AAPL goes, so too does NASDAQ and Dow Jones. The entire index was down 1.94% today, closing at 4,466.75, while the Dow Jones average also fell 1.54%, marking the single worst slide in nearly two months. Investors blamed the slipping stock prices on concerns about the global economy, as well as the growing backlash from consumers who report bending problems with the iPhone 6, and a rash of bugs that still haven’t been fixed by an iOS 8 update.

Despite the dip in Apple’s stock price, investors are still rating AAPL as a buy, with expectations of record breaking profits on the horizon aided by the release of the iPhone 6, plus a lineup of new iPads expected to be revealed next month, followed by the release of the Apple Watch in early 2015.

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