Apple lost over $450 billion in Market capitalization from October 3, 2018, to January 3, 2019.
Apple’s Market Cap loss is more than Facebook’s entire market value of $379 billion, as of January 3.
Earlier, Apple has cut its Revenue Forecast for the first time in almost 20 years.
According to Apple CEO Tim Cook, the company sales forecast about $84 billion for its fiscal first quarter ended December 29, down from analyst’s estimate of up to $91.5-$93 billion.
The company blamed weaker demand in China.
Tim Cook in a letter wrote to investors said, “while we anticipated some challenges in key Emerging Markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China.”
Apple posted $88.3 billion sales in the first quarter a year ago.