Apple has seen its share price drop below the $400 mark for the first time in almost two years, as the market sees a tougher future for the firm in spite of the highly anticipated launch of the iPhone 6 later this year.
Trading on shares for the firm hit $399.75 on Wednesday in the US, the lowest point since December 2011.
The fall from grace means Apple has lost its position as the biggest firm in the world, based on market capitalisation, to oil giant Exxon Mobile, as its share price has fallen from highs of over $700 last year.
The fall has come in the face of increased competition from rivals Samsung and fears that the firm will struggle to grow its market as its hits saturation with its iPhone and iPad devices.
The firm is set to unveils its next iPhone devices, likely to be called either the iPhone 5S or iPhone 6, later this year, and this will prove a watershed moment for the company in its battle to remain at the top of the highly-competitive smartphone market.
It could well feature a notably revamped version of the iOS operating system after previous software chief Scott Forstall departed from the company after the botched Apple Maps updated that appeared on the iOS 6 operating system.
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