January 24, 2013 / 2:07 PM / 5 years ago

Wall Street opens lower after Apple results

Traders work on the floor of the New York Stock Exchange, January 23, 2013. REUTERS/Brendan McDermid/Files

NEW YORK (Reuters) - U.S. stocks opened lower on Thursday, a day after Apple Inc (AAPL.O) reported revenue that missed expectations, tanking the stock and weighing on technology shares.

As the most valuable U.S. company and a heavy weight in both the S&P 500 and Nasdaq 100, a decline in Apple shares has an outsized impact on the broader market. Apple dropped 10.5 percent to $459.84 in early trading.

The Dow Jones industrial average was up 21.73 points, or 0.16 percent, at 13,801.06. The Standard & Poor’s 500 Index was down 2.16 points, or 0.14 percent, at 1,492.65. The Nasdaq Composite Index was down 24.98 points, or 0.79 percent, at 3,128.69.

Reporting by Ryan Vlastelica; Editing by Bernadette Baum

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