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The tech giant lost over $100 billion in market value.
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 An "enormous" bubble in tech stocks likely popped in September, putting the top in the market, hedge-fund manager David Einhorn warned in a letter to investors.
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 (Bloomberg) -- When talking about the biggest company in the world, it's not unusual for there to be eye-popping numbers. But Apple Inc.'s latest superlative is not one investors would like to see.Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out by a 19% slump. The latest bout of selling -- a 5.6% drop on Friday -- took out more than $120 billion alone. Apple's now worth $1.85 trillion and still the most valuable U.S. company, but the amount shaved from its ledger since its September peak is more than the entire market cap of Visa Inc., the seventh largest member of the S&P 500, and greater than the value of Thailand's stock exchange.The drawdown comes as the tech giant reported iPhone sales that missed analysts' estimates and gave no forecast for the holiday quarter. Fiscal fourth-quarter revenue from the iPhone was $26.4 billion, compared to expectations of $27.1 billion.The Nasdaq 100 Index plunged 2.6% on Friday and had its worst week since the coronavirus-induced selloff in March. Disappointing sales forecasts from tech companies like Apple, Twitter Inc. and Facebook Inc. are sparking worries about further growth potential in the names that led this year's rebound.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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 Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a long in Apple (AAPL), a Yahoo Finance Premium Investment Idea. Not a subscriber? http://finance.yahoo.com/premium-marketing?yahooproperties_editorialv_wcz7njuyytq"Start your free trial to join our next webinar on Wednesday, November 4 at 2:00pm ET live!
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Stocks trade lower early Friday, with investors waving off strong quarterly results from tech heavyweights to focus on unease about the outlook amid a continued surge in COVID-19 cases in the U.S. and Europe.
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