Dow set to face 110-point hit at the hands of Apple, if the iPhone maker's 7.3% stock drop holds

The Dow Jones Industrial Average late Thursday looked poised to take a big hit from one of its most influential constituents, if premarket action in shares of Apple Inc. hold through to Friday’s regular session. Shares of Apple AAPL, -6.63% were down 7.3% in after-hours trade, which would exact a 110-point toll on the 122-year-old price-weighted Dow Jones Industrial Average DJIA, -0.43% The premarket moves come after the smartphone manufacturer reported better-than-expected results for its fiscal fourth quarter but delivered a disappointing revenue outlook for the current quarter. As opposed to the market-capitalization weighted S&P 500 index SPX, -0.63% the Dow is price weighted, meaning a company that has a larger share price holds more influence over the benchmark. Apple was shedding roughly $16.22 to $206 from the iPhone maker’s Thursday closing share price of $222.22. A $1 move in anyone one of the Dow’s 30 components translates to a swing in the index of about 6.89 points. Because Apple also is the largest company by market value, a downturn on Friday would also weigh heavily on the broader market, including the Nasdaq Composite Index COMP, -1.04% Technology and internet-related companies have been been whipsawed over the past three or four weeks, amid worries about trade clashes between the U.S. and China and concerns that quarterly results from American corporations may be as good as they will get in the near future. Apple’s shares ending Thursday’s regular trade with a 1.5% gain before its earnings release. Check out a live blog of Apple’s earnings

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