Apple briefly breaks below $100, closes down 2%

Apple’s stock closed down nearly 2 percent at about $100.73 Wednesday, a day after tumbling 2.51 percent. Shares of the tech giant briefly fell below $100 a share in afternoon trading.

On Tuesday, Apple’s stock tumbled after the Japanese financial news service Nikkei reported that the company is expected to reduce the output on its iPhone 6s and 6s Plus devices by about 30 percent between January and March.

The company’s stock fell more than 2 percent after the report was released, and hit a low of $102.41. It closed Tuesday at $102.71 per share.

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