Apple’s share price dropped to US$420.05 on Monday, the lowest in 52 weeks, and continued to fall in after hours trading last night.
Pressure had already been mounting on the US tech giant to pay some of its US$137 billion cash pile back to its shareholders.
Apple’s total value is now below US$400 billion, but American business magnate Warren Buffet has defended the company from its critics.
Speaking to the CNBC news channel, he said: “I would run the business in such a manner as to create the most value over the next five or ten years. You can’t run a business to try and run the stock up every day.”
David Einhorn, a hedge fund manager, is one critic pushing for a higher return for shareholders, but he dropped a lawsuit against Apple last Friday.
Apple’s shares had reached an all time high in September when it hit US$705.07.
