A continuous stream of unfavorable news regarding Apple Inc. is raising doubts about the notion that the world's most valuable company is immune to economic turbulence-related risks. Lackluster sales of its new iPhone models in China have raised concerns about Apple's ability to justify its high valuation and prevent a streak of four consecutive quarters of declining revenue, which would be its most significant decline since 2001. Additionally, the company is grappling with political tensions with China and issues related to overheating devices, while KeyBanc recently downgraded the stock.

Despite its sluggish growth compared to other mega-cap companies, Apple's stock has not seen a significant reduction in valuation multiples, as noted in an interview. To mitigate the risk associated with Apple's valuation, some investors are considering using put options due to its "systemic" importance in the stock market.

On Thursday, Apple's stock inched up by 0.6%, breaking a four-day losing streak. However, over the period since the end of July, Apple's shares have fallen by 10%, outpacing the Nasdaq 100 Index's 5.6% decline. This decline has wiped out over $320 billion in market value, although Apple still remains the most substantial component of the S&P 500 Index, representing over 7.1% of the index's total weight.