Apple shares hit their lowest level in almost 2 years

Apple store Hangzhou, Zhejiang Province of China

ares of Apple, down more than 12 percent this year, fell as much as 1 percent Friday to the lowest level since June 2014.

The stock briefly traded at $91.99, a new near two-year low. The stock closed down 0.56 percent at $92.72 and was about 1.5 percent lower for the week.

Apple, once considered a darling among Wall Street investors and analysts, has been under pressure recently. On Tuesday, the stock snapped an eight-day losing streak, its longest in nearly two decades.
The company also reported its first-ever quarterly decline in iPhone sales last week, as well as its first year-over-year quarterly sales drop since 2003.