Apple is having a rollercoaster week. It experienced its biggest fall in share price since January yesterday, after hitting a record high the day before.
Shares opened nearly one per cent higher hitting $103.74 when markets opened on Tuesday after the company said there was no "ibrute" security breach when celebrity's iCloud accounts were hacked and intimate photos leaked online.
Shares then plummeted on Wednesday however, falling by four per cent- their biggest drop since January- as rival Samsung announced four new devices ahead of the anticipated iPhone 6 launch next week. The share price fell below the $100 dollar mark which it first surpassed in August as a result of the increasing hype surrounding its 9 September launch event.
In a statement, Apple said that the thefts happened after the perpetrators deduced their login credentials as part of a “very targeted attack on user names”.
"When we learned of the theft, we were outraged and immediately mobilised Apple’s engineers to discover the source," the company said.
"After more than 40 hours of investigation, we have discovered that certain celebrity accounts were compromised by a very targeted attack on user names, passwords and security questions, a practice that has become all too common on the internet.
“None of the cases we have investigated has resulted from any breach in any of Apple’s systems including iCloud or Find my iPhone. We are continuing to work with law enforcement to help identify the criminals involved."
Nude photographs of around 20 celebrities, including actress Jennifer Lawrence, were published by an anonymous user on the picture-sharing website 4chan. There was speculation that a flaw in Apple's software enabled users to locate missing iPhones, because it had allowed hackers to try logging in with an unlimited number of passwords.
Apple and America's FBI have launched a probe into matter.