Apple shares fell more than 3 per cent on Thursday, wiping close to $23bn off its stock market value, as investors reacted to the "bendgate" and iOS 8 bug double whammy.
Yesterday, Apple made a rare apology over the iOS 8.0.1 software glitch, launching a second update to restore full functionality to the tens of thousands of affected phones, while playing down concerns about the "bendy" iPhone 6 Plus. But the statement failed to appease investors.
The stock closed at $97.87- below the psychological barrier of $100- after hitting a new all-time high of $103.74 earlier this month in anticipation of what some described as "Apple's next super cycle" following the launch of the iPhone 6 Plus and the Apple Watch.
On Wednesday, Apple found itself in hot water after users who installed the 8.0.1 update reported they were unable to make calls and encountered problems using Touch ID.
The incident came just hours after angry Apple customers claimed their new iPhone 6 Plus had unintentionally bent from being carried in their pockets in what's now been dubbed "Bendgate". Yesterday, the Cupertino-based giant insisted that the iPhone uses the strongest glass in the industry and steel and titanium inserts are placed in stress locations. Despite the social media outcry, Apple said only nine customers have contacted the company to report a bent iPhone.
An Apple spokeswoman added: "With normal use, a bend in iPhone is extremely rare and through our first six days of sale, a total of nine customers have contacted Apple with a bent iPhone 6 Plus."
The company has also been hit by two major PR disasters, including heightened security concerns about its iCloud after a series of nude celebrity photographs appeared online, and the U2 free album debacle, which forced the company to introduce a removal tool for users who- as it turns out- do not like Bono.Reuse content