KUALA LUMPUR: Globetronics Technology's share price fell to a low of RM6.30 on Wednesday after it was downgraded to a sell as the launch of the Apple smartphone did not feature the bundling of premium wireless earphones in any of the three new smartphone variants.
At 2.43pm, it was down 23 sen to RM6.34. There were 2.09 million shares done at prices ranging from RMN6.30 to RM6.55.
The FBM KLCI fell 1.21 points or 0.07% to 1,788.65. Turnover was 1.69 billion shares valued at RM808.29mil. There were 308 gainers, 348 losers and 471 counters unchanged.
At the current price, it is trading at a price to earnings of 65.63 times and its estimated forward P/E for FY17 is 29.35 times.
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