Agence France-PresseApril 17, 2013 18:45
Apple shares plummeted more than five percent Wednesday after Cirrus Logic, a supplier of Apple components, slashed its own profit guidance, suggesting its Apple business had weakened.
Apple shares closed at $402.80, down $23.44 or 5.5 percent, after briefly dipping below $400 earlier in the session.
The decline robbed Apple of its crown as biggest US company by market capitalization. Apple is now worth $378.25 billion, compared with oil giant ExxonMobil's $385.68 billion.