Radar Movers: Apple and Microsoft Sink Lower, Starbucks Jumps 3%

Shares of Apple (NASDAQ:AAPL) plunged more than 12 percent on Thursday and continue to edge lower in late afternoon hours. The company recently released financial results that did not satisfy the market. Furthermore, gross margin came in at 38.6 percent, compared to 44.7 percent in the same quarter a year earlier. Apple finished the quarter with a total cash position of $137.1 billion.

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