The stock reached a high of over $700 per share a couple months ago, but thanks to more competition from competitors and difficulty keeping up with the high demand of its products, the stock is falling at an alarming rate to just over $500 as of the publishing of this article.
Bloomberg is reporting that Apple is facing a bear market, which is defined as a company experiencing a 20% loss over a prolonged period of time.
It's a good problem to have when you're the most successful company in the history of our nation and that success leads to being unable to keep up with the high demand of a product that accounts for 25% of your profits. However, the problem isn't so great when it leads to a plummet in your market value.
Apple is also seeing increased competition from rival companies Amazon and Google, even to the point, as some would say, that the former felt pressured to release a smaller sized tablet in order to keep up with both the Kindle Fire HD and Nexus 7.
Only time will tell how long this free fall will last. Subscribe today for all the latest tech and gadget news!