Shares of Apple (AAPLFortune 500) plunged more than 10% in early trading, as investors grew skeptical about the iPhone maker’s growth prospects. Despite reporting arecord quarterly profit, Apple’s forecasts showed signs of slowing consumer demand for its products, particularly its iPhones.

Apple’s stock has been on a steady decline for months. In fact, shares have plunged more than 35% from their all-time intraday high of $705, reached Sept. 21, 2012.

Since then, Apple’s stock has dropped in value by nearly $230 billion, with its valuation slipping to $430 billion in just four months.

Almost exactly one year ago, Apple nudged out Exxon Mobil (XOMFortune 500) to become the most valuable publicly traded company in the world.

Read the full article here.