Yes, that’s scary isn’t it?

Apple shares fall 12% on growth fears

Apple shares have tumbled 12% as investors fret over whether the company could lose its dominance in the smartphone market.

About $50bn (£32bn) was wiped off Apple’s value after the biggest daily drop in the firm’s stock in four years.

Flat profits and record quarterly revenue of $55bn were not enough to overcome disappointment over sales of the company’s new iPhone 5.

Analysts said the firm was in danger of becoming a victim of its own success.

Earlier, shares in some of Apple’s key Asian suppliers also fell.

LG, which provides displays for Apple products, fell 3.1%, and Hon Hai, which assembles iPhones and iPads, dropped 3.2%.

Moggy