Investors have felt pretty skittish ever since it released earnings earlier in Nov. The company announced that it will stop giving out the amount of units sold each quarter.
The company's latest hit comes from weak demand for the new iPhones. The company has also told suppliers that it will be cutting its production plan for the iPhone XR.
TheStreet's Martin Baccardax reported on the note to suppliers, which was originally reported by the Wall Street Journal.
"Apple shares extended declines Monday following a report from the Wall Street Journal that suggested yet more iPhone production cuts as waning demand and an increase in available models disrupts the tech giant's global supply chain," Baccardax reported.
"The Journal reported that Apple has notably reduced orders for the three new iPhones it unveiled in September -- the XS, XS Max and the XR -- from suppliers, and slashed planned production for the iPhone XR by around 33% from the 70 million units it originally had anticipated from launch through the holiday season," he wrote. "The latest Journal piece follows on from a series of analyst downgrades and reports of waning iPhone demand and production cuts, as well as a troubling profit warning from Lumentum Holdings (LITE - Get Report) , a key supplier of 3D chips for Apple iPhone's facial recognition system."
Cramer responded to the market sell-off and expressed his doubts.
In the past month, Apple has fallen nearly 16%.