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- Apple shares fell over 2% on Friday.
- It posted a so-so earnings report that showed iPhone and iPad sales falling.
- The losses could wipe $70 billion off of Apple's total market capitalization.
Apple is on track to erase nearly $70 billion in value after it said iPhone sales fell in the three months to July 1.
The Big Tech giant's shares were down over 2% shortly after the opening bell, as investors reacted to a so-so earnings report released after Thursday.