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While the Standard & Poor’s 500, for the most part, was flat, investors expressed their concern about the infallability of the major technology companies with a hefty bout of selling in the Nasdaq Composite Index. The 1.3% decline — and a 1.6% decline in the Nasdaq-100 — comes in advance of Apple Inc.’s earnings, scheduled for release Monday. Google Inc. comes across as a busted growth stock, and while Apple isn’t at that point, it’s reasonable to question whether Apple’s growth won’t start to back off a bit as well. Unlike Google, however, the late-spring rally actually managed to push Apple shares within striking distance of the 52-week high at $202.96, and the company appears to be on solid footing despite the challenges faced by consumers in this environment. That hasn’t stopped some analysts from issuing cautious... [read full story]
