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Ripple effect: Suppliers stumble after Apple's disappointing quarterly results

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Jason Oxenham | Getty Images

Apple erased more than $46 billion in market cap after the company posted quarterly results that fell short of Wall Street expectations, dragging down stocks in its supplier universe.

Apple suppliers suffered in after-hours trading Tuesday. Shares of Skyworks Solutions dropped more than 5 percent. Micron Technology shares were down more than 1 percent. Shares of NXP Semiconductors fell more than 2 percent. Broadcom shares tumbled more than 3 percent.

The tech giant suffered from a disappointing quarter in China, as it saw its second-quarter sales in the Greater China region decline 26 percent year over year. Overall, this was Apple's first quarterly sales drop since 2003. Second-quarter revenue declined 13 percent year over year.

The paper losses after-hours were also greater than the market capitalization of nearly 80 percent of the S&P 500 companies.

— CNBC's Everett Rosenfeld and Evelyn Cheng contributed to this report.