INVESTORS are sending Apple's stock below $US600 ($583) for the first time in three months, after the consumer electronics behemoth reported earnings for its latest quarter that missed expectations and warned that profits in the holiday quarter would fall from last year.
Apple shares are down 2 per cent at $US597.64 in midday trading.
Late on Thursday, Apple said profits for the rest of the year would be lower than what Wall Street has been expecting because it's launching so many new products. '
It's expecting mammoth sales, but new products are more expensive to make than older ones.
Apple shares have now lost more than $US100 from their all-time peak of $705.07, hit on Sept. 21, the day the iPhone went on sale in the U.S. and eight other countries.
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