Apple Loses $9.9 Billion After Bad Review

A day after Consumer Reports review slammed the iPhone 4, Apple's stock prices fell sharply.

According to The Telegraph, following the controversial review, Apple's share price fell by 4.5 per cent causing its market value to degrade by $9.9 (£6.5) billion, with share prices dropping as low as $246.43, before recovering to finish the day at $251.80, down 2.1 percent.

The crash in the share prices comes after the magazine speculated that the company was in no position to further ignore the antenna issues plaguing the device and would have to recall all the iPhone 4 handsets.

The report said: “When your finger or hand touches a spot on the phone’s lower left side ... the signal can significantly degrade enough to cause you to lose your connection altogether ... Due to this problem, we can’t recommend the iPhone 4.”

“Apple needs to come up with a permanent – and free – fix for the antenna problems before we can recommend the iPhone 4.”

Apple has not yet responded to the review, but has advised owners to either hold the iPhone differently or purchase a £25 case to prevent loss of reception.