Apple stock drops as iPad Mini event wraps up

AP News
Posted: Oct 23, 2012 3:06 PM
Apple stock drops as iPad Mini event wraps up

NEW YORK (AP) — Apple's stock is dropping Tuesday as the company wraps up an event unveiling new and updated products, including a smaller iPad. The Mini's price starts at $329, higher than what most analysts had expected.

The price of the iPad Mini, whose screen is roughly two-thirds of the full-size model, is higher than competing small tablets. The Kindle Fire made by Inc. starts at $159.

Apple Inc.'s shares are down 1.8 percent to $622.34 in afternoon trading. The stock is down 12 percent from the all-time high of $705.07 touched on Sept. 21.

Leaving the Left
John Stossel

Amazon's stock, meanwhile, is up less than 1 percent to $235.27. Shares of Google Inc., another tablet competitor, also inch up less than 1 percent, to $682.92.