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Just three months ago, Apple was on a high as the most valuable company in the world. But since October 2018, $450 billion has been wiped from its value. That's more than the entire value of Facebook. Apple's stock has been in freefall since since its 52-week high in October, and the unexpected sales warning from CEO Tim Cook has sped up the decline. The iPhone maker's share price fell by 9.96% on Thursday following a shock readjustment of its revenue forecast.  Read more: Apple's brutal sales warning sparked a Wall Street debate on whether tech stocks will be dragged into a disastrous downturn Just three short months ago, Apple was on a high as the most valuable company in the world. But since Apple hit a peak of $232.07 a share on October 3, giving it a market cap of $1.16 trillion, it has dropped to $142.19, wiping $450 billion from its value. Its market cap stood at $710.97 billion on Thursday, according to Macrotrends. Bloomberg pegs Apple's current market cap at $674.74 billion. To put that into context, that $450 billion loss is significantly more than the value of Facebook, which is currently worth $383.76 billion, according to Macrotrends. It's also more than the GDP of countries including Iran, Austria, and Norway. This chart shows the three-month decline and says it all: The drop in valuation means Apple has lost its position as third most valuable company in the world to Alphabet, the parent company of Google. In pre-market trading, Apple was up 1.61% to $144.48 at the time of publication. SEE ALSO: 'Apple's darkest day in the iPhone era': Here's what Wall Street is saying about Apple's bombshell sales warning Join the conversation about this story » NOW WATCH: How SpaceX, Blue Origin, and Virgin Galactic plan on taking you to space