Apple shares closed down for an eighth straight day on Monday — the first time time this has happened since July 1998.
The stock has lost 11% since April 26, when the company reported first-quarter earnings that fell short of analysts’ expectations on some key metrics.
Apple broke another streak then, reporting a year-over-year decline in quarterly revenues for the first time since 2003.
Investor sentiment was also hit by signs that iPhone sales are slowing down. Sales fell 26% in China, a key market for the company, amid the country’s slowing economy and a saturated market that’s giving consumers more choices.
Apple shares were further hurt by news on April 28 from billionaire investor Carl Icahn that he dumped his stake that the company. Icahn had once called this investment a no-brainer, but the situation with China compelled him to find the exit.
Year-to-date, Apple shares are down 11%, and they have slid 27% over the last year.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.