By Mike WazzaVice News – 3 hours agoApple’s stock dropped a whopping 6% on Thursday after a new competitor beat it out for a spot in the best sound bar category.
The New York Stock Exchange’s Dow Jones Industrial Average dropped 7.5% to 2,633.30, while the Nasdaq dropped 7% to 4,923.25.
The stock market’s weakness is the first to hit Apple since the company released the first iPhone in 2007, and it is a blow to the tech giant.
The company is now down more than $100 billion, and Apple’s market capitalization is down more nearly $100 trillion.
The stock has lost more than 3% this year.
Apple has struggled to get consumers to buy new products, which has led to falling sales.
Apple shares are down more by about 25% from their high of $180.25 in early April.
The SONY sounds great in my pocket, but I can’t afford it.
It’s a great sound bar and it does the job, but it’s a bit heavy and not portable, says Robert Korotkoffs, CEO of the Korotko sound bar maker.