Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Patriots Live

7

7

2nd Qtr 5:59

Market Mover

Sales forecast sparks Apple Inc. sell-off

The cost of starting production of new products like the iPhone 5 and iPad Mini cut into revenue.

Reuters

The cost of starting production of new products like the iPhone 5 and iPad Mini cut into revenue.

Continue reading below

A sell-off put Apple at risk of losing its status as the world’s most valuable company. Thursday, it was worth $423 billion, just 1.6 percent more than Exxon Mobil. The drop was set off by Apple’s earnings Wednesday, which suggested its long growth spurt is slowing. Profit was flat over the year before. Of even more concern to investors: Forecast sales growth for the current quarter is around 7 percent vs. a year ago — far from the 50-percent-plus rate it has often hit in recent years.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com