In Big-Company Standings, Apple Faces New Indignity: Third Place

A two-month tumble in Apple Inc. has shrunk the iPhone maker from gargantuan to merely huge, leaving it at risk of another downgrade on the list of the world’s biggest public companies.

Apple’s 27 percent decline since Oct. 3 has lopped more than $314 billion from its market value, pushing it to around $800 billion. At $839 billion, Microsoft Corp. left it in the dust a month ago, and now the stock is in a minute-by-minute race with Amazon.com Inc. for second place.