Apple Suffers $23bn Loss Over iOs Glitch, 'Bendgate' and iCloud Security

Apple has lost billions of dollars from its market value amid investor concerns about issues such as the software glitch, the 'bendgate' and iCloud security.

About $23bn (£14bn, €18bn) have been wiped off from the company's market capitalisation at the close of trading on 25 September. Shares in Apple closed down 3.81% at $97.87, while they edged up 0.41% in after hours trading, after the company released the iOS 8.0.2 update.

Over the last week, the company has lost more than 4% of its value, after hitting an all-time high of $103.74 earlier in September.

Apple suffered with a bug on its latest version of iOS, just one week after launching its new iPhone models. Some iPhone customers complained that they could not make calls and use the TouchID fingerprint sensor following the latest OS update.

Subsequently, the company withdrew the update hours after making it available, and released a patch to address the issues. The company promised the patch would "fix an issue that affected iPhone 6 and iPhone 6 Plus users who downloaded 8.0.1".

In addition, the company apologised to owners of its latest iPhones, who suffered from the glitch.

There were also warnings that Apple's OS X operating system has a security flaw, which could be more dangerous than the notorious Heartbleed bug.

In addition, Apple's larger-screen iPhone 6 Plus faced complaints because some people said it bent in their pockets - a fiasco now dubbed "bendgate".

"With normal use, a bend in iPhone is extremely rare and through our first six days of sale, a total of nine customers have contacted Apple with a bent iPhone 6 Plus," Apple spokeswoman Trudy Muller said.

Apple added that iPhones feature stainless steel and titanium inserts to reinforce high-stress locations and use the strongest glass in the smartphone industry.

There have also been fears that the company might face high-profile litigation over security issues at its cloud storage service, iCloud. Recently, a number of celebrities had their iCloud accounts hacked, and their private photos have been shared online.

Apple had sold 10 million units of its latest iPhone models in the weekend after these were launched on 19 September.