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Apple slump deepens on iPhone, China concerns

Apple is slumping as the usually high-flying tech stock struggles with the burden of raised expectations. The world's most valuable public company saw its stock price drop for a fifth straight day on Tuesday, falling as much as $5.19 or 4.4 percent, to $113.25 as investors fretted over China's economy and whether Apple can keep growing at the pace it's maintained over the last few quarters. Apple shares are down 14 percent since closing at a record $133 in February. That puts Apple in a "correction," which is Wall Street jargon for price declines of 10 percent or more from a peak. The stock also dropped below its 200-day moving average, a technical indicator...

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