Supplier woes stir Apple demand fears, stock drops below $400

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Customers visit the Apple store on 5th Avenue in New YorkBy Poornima Gupta and Noel Randewich SAN FRANCISCO (Reuters) – Apple Inc's shares fell below $400 on Wednesday for the first time since December 2011 after a chip supplier's disappointing revenue forecast fanned fears about weakening demand for the iPhone and iPad as competition intensifies. The stock dropped below $400 briefly before bouncing back to end 5.5 percent lower at $402.80, losing more than $22 billion of market value in a single day. …

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