Thursday May 12, 2016

Wall Street Mixed As Apple Tumbles To Two-Year Low

The hits just keep rolling in for Apple. With Google overtaking Apple as the world’s largest publicly-traded company, combined with the recent wave of doom-and-gloom reports and negative headlines, I'm actually surprised Apple is doing as well as it is right now.

The S&P 500 and Dow Jones swerved between gains and losses before ending virtually flat. Up 0.90 percent, Microsoft was the largest upward force in the S&P 500. Apple Inc, a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about slowing demand for iPhones.