Apple is tanking tech stocks globally

Tech stocks are slumping following disappointing earnings results from Apple last night.

About $66 billion was wiped off the market cap of the Cupertino, California, tech giant after it posted its quarterly earnings - prompting a drop in tech stocks across the globe. Apple failed to meet investors' expectations for iPhones sales - 47.5 million units sold versus an analyst forecast of 48.8 million. The smartphone is one of Apple's key revenue drivers, and its stock subsequently dropped 7% in after-hours trading.

Apple is one of the most widely held stocks in the world.

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The Financial Times points out the UK chip company ARM Holdings is down 3.8% today, and the German Infineon Technologies is down 4.6%. ARM produces chips that almost all smartphones use. TalkTalk, the wireless service provider, meanwhile, is down 6.6%.

Here was the Stoxx Europe 600 Technology Index this morning:

CNBC

Here's the FTSE Eurofirst 300, struggling to bounce back:

Google

Here's TalkTalk's disastrous performance:

Google Finance

Even the FTSE 100 fell out of bed, opening down 0.75%:

Google

The MSCI Asia Pacific Index also slipped 1%, the Telegraph reports, along with MSCI All Country World Index - down 0.3%.

Apple saw revenue of $49.6 billion - up 33% annually, and beating analyst expectations of $49.4 billion. EPS also beat expectations - $1.85 versus $1.81. Along with iPhones, Mac units also missed targets - 4.8 million versus 4.9 million expected. The revenue guidance is conservative - $49-51 billion versus an expected $51.06 billion.