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Clues by NC Team • 3 Jan 2019, Thursday

Apple Inc. shares tumbled 7.7% amid a broader sell off after its chief Tim Cook revised the quarterly sales forecast downwards to $84 billion from the original $89-93 billion on the back of slowing iPhone sales in China. The US and China have been embroiled in a global trade war. Cook told CNBC that Chinese consumers may have elected not to buy Apple products because it is an American company and instead opted for local brands like Huawei. However some analysts feel that the company’s high selling prices for its products are also responsible for declining sales.

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