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Apple Inc.

Apple stock down more than 5% in morning trading

Apple stock down more than 5% in morning trading

On the heels of a good-but-not-great earnings report as well as concerns about demand in China and iPhone growth prospects, investors are sending Apple stock sharply down in Wednesday morning trading on Wall Street. As of 7 a.m. PDT, the Cupertino, Calif.-based company's stock had fallen $6.56, or slightly more than 5%, to $124.19. That comes after investors pushed Apple stock down more than 7% in after-hours trading on Tuesday, shortly after the company posted its fiscal third-quarter earnings report in the afternoon. It actually was a solid quarter overall for Apple, which beat Wall Street expectations by reporting profit of $10.7 billion on revenue of $49.6 billion for the...