Amid a broad tech industry selloff, Apple stock has lost more than $500 billion in market value since an intraday high of $137.98 on Sept. 2.
Since that day, the Cupertino tech giant's share price has plunged 22.6%, shaving off about $532 billion in market value. It follows months of surge leading up to a four-for-one stock split that completed on Aug. 31.
Shares of AAPL are currently trading at $106.84 on the NASDAQ, down 3.17% in intraday trading. That leaves Apple with a market capitalization of $1.85 trillion.
Apple's plunge comes amid a broader tech industry selloff in September. Earlier this month, Apple lost more market value than any other company in history during a one-day plummet.
According to CNBC, investors believe the selloff resulted from concerns over rich and lofty valuations that have surged too high and too fast.
On Tuesday, Apple released new Apple Watch models, iPads and services, but some analysts told CNBC that the event was "underwhelming." The company did not announce new iPhones at the keynote.