Bad News Hounds Apple Days Before iPhone Gala

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Apple has been forced to do some serious damage control when it no doubt would rather be rallying fans for its big iPhone launch next week. The Labor Day weekend was barely over when news broke that a number of celebrity accounts on Apple’s iCloud service had been cracked and some embarrassing photos posted. That triggered a stock drop from $103 to $99 on Wednesday. Piling on, two activist groups on Thursday released a report critical of work conditions at an Apple supplier in China. Shares slipped to $98 by market close.

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