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Apple loses $64 billion in stock value as Wall Street is in 'full panic mode' on iPhone demand

Tae Kim

Apple's stock is cumulatively down 7.1 percent in the three trading sessions through Monday, wiping out $63.9 billion of shareholder value. The decline was sparked by key Apple partner Taiwan Semiconductor Manufacturing's weaker-than-expected guidance Thursday morning. "Heading into Apple's much anticipated March (FY2Q18) quarter next week the Street has gone into 'full panic mode' as supply chain checks out of Asia indicate that June iPhone shipments are trending well below expectations," GBH Insights analyst Daniel Ives writes in a note to clients Tuesday.