Appleshares hit their lowest point in almost a year on Monday after investors, already jittery about the iPhone maker's results next week, were spooked by reports of supply-chain cutbacks.
Shares in Apple shaved the $500 mark in pre-market trading and were about 3 per cent lower at $504.73 by late morning in New York. Investors in the world's most valuable company watched its shares rise from below $500 in early February last year to top $700 in September, from which point it has steadily declined.
Analysts' consensus forecasts predict that Apple's earnings will post a year-over-year decline for the first time in a decade. The company warned in October that margins would be put under pressure by the simultaneous launch of many products, including the iPhone 5, iPad mini and iMac.