Why Apple Stock Is Slumping Today

Shares of Apple (NASDAQ: AAPL) were down on Wednesday, taking a break from the rally that has pushed the stock up nearly 80% this year. While there was some negative news for Apple related to a lawsuit with VirnetX, it's unlikely to be playing much of a role. Apple stock was down about 2.8% at 12:15 p.m. EDT after having been down as much as 5.4% earlier in the day.

Apple was ordered to pay VirnetX around $440 million earlier this year for infringing on patents in a decade-long case. On Wednesday, Apple's request for relief was denied by the U.S. District Court for the Eastern District of Texas.

Image source: Getty Images.

Source Fool.com