Shares in Apple (NASDAQ:AAPL) could face their sixth session in a row of losses on Wednesday as investors fret about the tech giant's growth prospects.
The stock fell on Tuesday to six-month lows after the US firm reportedly lost its top place in China during the second quarter to domestic rivals Xiaomi and Huawei.
Confidence in Apple shares has been fading since it reported results last month, when it issued lower second half profit guidance.
Shares in the group closed on Tuesday down US$3.8 at US$114.64, a 14% fall since the stock reached a record US$133.6 in February.
The drop wiped more than £61.6bn from the company's market value.
The iPhone maker accounts for a huge chunk of the US indices, accounting, for example, for 14% of the Nasdaq Composite and 4% of the S&P 500.
Chartists were having a field day as its 6% drop over the past two days also meant the tech icon had moved below its keenly watched 200-day moving average.
Last month, Apple reported a 35% quarterly rise in sales of iPhones to more than 47 million against the same quarter a year earlier, but the figures fell short of some analysts' expectations and concerns have also emerged about the potential impact on the company of the Chinese economic downturn.
Other analysts have highlighted potential long-term growth drivers such as Apple Music and a reported move into satellite navigation for driverless cars.
There has been market speculation that Apple is among companies considering buying Dutch satellite navigation maker TomTom (AMS:TOM2), with 15 euros per share talked about as a potential offer level.
TomTom has been refocusing away from in-car satellite navigation equipment towards digital mapping. In May, the firm renewed and extended its global deal to supply maps to Apple.
Jasper Lawler at CMC Markets said: "There is still a lot of long term growth potential for Apple though the likes of Apple Music and a reported move into the auto industry but momentum has turned negative in the short term."