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Tech Industry

Apple shares loiter below $400 again

The trading day started and ended with the iPhone maker above the $400 mark, but for a good portion of Monday, Apple's shares were in the $398-$399 range.

CBS Interactive

Apple's shares slipped notably for a portion of Monday's trading.

The company's shares fell as low as $398.05 Monday morning and spent a good portion of the day below the $400 mark. The shares, which started the day at $407.40, had stayed above the $400 mark for the last couple of months.

The saggy shares rallied toward the end of trading Monday to close at $402.54, down more than 2 percent from Friday's close.

It's not clear why Apple's shares trended downward today, but that movement might have been connected to a marketwide selloff that as of Monday morning had pushed the Dow Jones down 1.6 percent and the Nasdaq down 1.8 percent. The technology sector was down 2.1 percent.

Despite Apple's troubles, the company's shares are still off from their 52-week low of $385.10. However, the shares are even further from their 52-week high of $705.07.

Update 1:15 a.m. PT: Added in Apple's closing price.