A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock market indexes eked out gains.
Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales will likely increase just 7 percent in the current quarter. That's a letdown for a company that has regularly posted growth rates above 50 percent.Even after its recent slump, Apple still ranks as the world's most valuable company, at $423 billion, putting it $7 billion ahead of runner-up Exxon Mobil.By contrast, Netflix jumped 42 percent, adding $43.60 to close at $146.86. Netflix said late Wednesday that it turned a profit with the help of 2 million new subscribers. Analysts were expecting a loss.Microsoft fell in after-hours trading after reporting that its earnings slipped 4 percent in the last quarter of 2012.Union Pacific dropped $1.51 to $133.84 as the country's largest railroad company posted weaker revenue than analysts predicted. -- The Associated PressHave more to add? News tip? Tell us
