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Shares fall to lowest level since December 2011

Apple sees shares slip

Apple shares fell yesterday when chip supplier Cirrus Logic revised its revenue forecasts.

Cirrus suggested blamed reduced demand on one customer – without naming them – but the investors have guessed Apple and sold shares accordingly.

The share price slipped down to under $400, the lowest level since 2011, before increasing slightly to $402.80 by the end of the day.

Cirrus Logic makes components for iPhone and iPad, and its latest figures suggest Apple may not be releasing a new phone or iPad any time soon.

Apple hasn’t commented, but will reveal Q1 results next week.

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