Apple shares fell nearly 2% in premarket trading on Friday.
It posted a so-so earnings report that showed iPhone and iPad sales falling.
The losses could wipe nearly $60 billion off Apple's market capitalization.
Sales of iPhone, which account for nearly half of Apple revenues, slipped more than 2%, while iPad sales were down by a fifth.
"Apple beat expectations overall, but a 2% fall in iPhone sales has spooked investors and caused a sharp sell-off," said Hargreaves Lansdown lead equity analyst Sophie Lund-Yates.
Persons:
Apple, Hargreaves, Sophie Lund, Yates
Organizations:
Apple, Service, Big Tech
Locations:
Wall, Silicon, Refinitiv, Cupertino