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

Wall Street opens lower after Apple results

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.

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

    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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