Apple's glory days are numbered and it will be impossible for the technology giant to sustain its meteoric pace of growth, according to Ben Rogoff, manager of the £412m Polar Capital Technology trust.
Asian stock markets echoed Wall Street's overnight slump as investors fretted over declining Japanese export figures.
The S&P 500 is at a four-year high and the Dow looks set to follow as US equity investors continue to make gains.
Facebook shares have fallen 15% after the company reported a drastic slowdown in revenue growth and failed to reassure investors on its ability to boost advertising growth.
The US economy has beaten forecasts from analysts after it expanded by 1.5% in Q2.
Markets dipped into the red this afternoon after a weaker start in the US, as a round of poor corporate updates weighed on investor sentiment, compounding eurozone fears.
Stronger than expected employment data could not prevent Wall Street selling off at the open this afternoon.
European stock markets have mirrored losses overnight in Asia and on Wall Street, despite the EU announcing it will hand Spanish banks €30bn of aid later this month.
The Dow Jones Industrial Average shed over 100 points shortly after the opening bell as US non-farm payroll data came in below analysts' expectations.
Global markets bounced back sharply last month, with some of the most heavily sold off equities in Europe up by huge margins.