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Apple shares jumped nearly 7% on Friday as the iPhone maker's record stock buyback plan and promise of sales growth brought back investors who have shunned the stock on concerns over weak demand and increased competition in China.
The company's shares dropped 1.7% to an eight-week low of $181.20 on Thursday. If the losses hold, Apple stands to lose $47.4 billion of its value for the day.
Shares of the Cupertino, California-based company fell as much as 5.1%, bringing its two-day slump to 6.8%. Apple is the biggest component in major US equity indexes, adding to a broader selloff sparked in part by a litany of woes in China