January 23, 2013
NEW YORK — For many investors, Apple's best days are behind it. Competitors are catching up, they believe, and the latest iPhone is stumbling.
The company's doubters have backed their conviction with billions of dollars. Last week, the stock fell below $500 for the first time in 11 months. Since Apple's stock peaked at $705.07 on Sept. 21 —the day of the iPhone 5's release— it has fallen nearly 30 percent, cutting Apple's market capitalization by nearly $200 billion.
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