(Reuters) - A rare Wall Street downgrade stoked fears that Apple Inc's torrid growth is slowing and sent its shares sliding for the second straight day as nervous investors ponder the impact on the tech industry from Japan's largest-ever earthquake.
The world's largest technology company lost about $14 billion of value on Wednesday after JMP Securities' Alex Gauna downgraded the stock, pointing to a sharp pullback in sales growth at Apple's largest Asian contract manufacturer as a sign that business was also slowing at the iPhone and iPad maker.
"There's a risk of complacency. The sell-side has gotten itself into a game of one-upmanship," Gauna said. Investors "should make sure that they're comfortable with the situation ... especially since there's just so much uncertainty right now."
He added: "We know that Japan as a supplier matters."
Apple's stock slide -- the largest single-day loss in almost nine months -- comes amid uncertainty about the impact from the largest earthquake to hit Japan.
While it accounts for 6 percent of Apple's sales and is a major source of components for its screens, many analysts said Apple wielded sufficient clout and a good-enough track record to secure critical components -- for now.
Apple shares ended down 4.5 percent at $330.01 in heavy volume, following a 2.3 percent slide on Tuesday.