The Apple logo is illuminated in red at the Apple Store on 5th Avenue to mark World AIDS Day, in the Manhattan borough of New York December 1, 2014. REUTERS/Carlo Allegri
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The Nasdaq Composite Index slumped as disappointing results from Apple Inc., Microsoft Corp. and Yahoo! Inc. rippled through technology stocks.Apple fell 5.1 percent after iPhone sales and revenue forecasts missed estimates. Apple slid after releasing results late Tuesday.Cirrus Logic Inc. and Skyworks Solutions Inc. lost 7.5 percent and 6.3 percent, respectively, while Avago Technologies Ltd. and NXP Semiconductors NV slumped more than 4.8 percent.Some 27 S&P 500 companies are posting results today. Of those that have reported so far, about three quarters beat earnings estimates and 55 percent have topped sales estimates.
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