Shares of US Tech Giant Apple fell below $600 at the Nasdaq stock exchange trading session on Wednesday in the wake of the sound changes in the company’s executive team.
The price per share fell by $8.68 to $595.32, which was a 1.44 percent drop against last Friday’s trading session. This is the first time Apple shares drop below $600 since July.
The biggest shakeup in the company management since the death last year of co-founder and CEO Steve Jobs was announced on Monday, but stock exchanges reacted on Wednesday as they were closed due to the emergency situation on the eastern coast of the United States caused by hurricane Sandy.
On Monday, Apple announced Senior Vice President John Browett, the recently hired head of retail store operations and SVP Scott Forstall, the longtime head of the iOS mobile software division, were leaving the company.
Browett was terminated immediately, while Forstall will remain on staff for another year serving as an advisor to Apple CEO Tim Cook.