Apple, Google see $53 bln wiped off their combined share value in one week

   Apr 17, 4:09 pm

Washington, Apr 17 (ANI): A slide in tech firm Apple and Internet search giant Google's share prices has wiped off over 53 billion dollars off their combined value in a week, according to a report.

Apple shares hit a historic high last Tuesday, opening at 644 dollars, but have since dropped more than eight percent.

The decline, that saw a drop of over four percent last week, accelerated on Monday as Apple fell another three percent to 585.7 dollars.

Meanwhile, Google shares fell over four percent last week and a further three percent on Monday, The Telegraph reports.

According to the paper, the falls mark a shift in gear for Apple and Google, which have both seen sustained growth over the past year.

Some analysts pointed to 'growing negative sentiment' about Google's dual class share structure announced last week as the reason for the drop in its shares.

Meanwhile, Apple shares closed down 25.1 dollars, 4.2 percent, at 580.13 dollars. Google shares fell 18.53 dollars, three percent, 606.07 dollars. (ANI)

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