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Apple slides below $200 for the first time in 3 months (AAPL)

Apple shares slid below $200 on Monday for the first time in three months.

  • The tech giant's market capitalization dropped below $1 trillion on Friday.
  • The company reported last week disappointing iPhone sales and gave soft guidance for its crucial holiday quarter.

Apple shares slide below $200trading at their lowest level . Shares are on track for their first 10% drop over two trading days since January 2013.

The recent selling comes after Apple reported underwhelming iPhone sales and gave soft guidancefor its crucial holiday quarter.

The smartphone giant said it sold 46.9 million iPhones in the third quarter, missing the 48.4 million expected by analysts surveyed by Bloomberg. It also said it expected fourth-quarter revenue to be

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RBC Capital Markets cut its price target to $240 from $250, but maintained its "outperform" rating.

Apple was down 15% up 15% this year.

  • 'Houdini-like metrics move': Here's what Wall Street is saying about Apple's decision not to reveal its iPhone sales
  • Millennials are buying the Apple dip ahead of earnings
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  • These 20 stocks are about to experience an explosive end-of-year rally, JPMorgan says

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