Key Takeaways
- Apple
Under Pressure
AAPL
- Disney At Lowest Level In Nearly A Decade
- Volatility Still Low
The big news this week has been the drop in Apple. Following an order from Chinese officials forbidding state workers from using iPhones and other foreign made phones, shares of Apple have come under pressure. Yesterday alone, Apple lost 2.9% and has lost $190 billion in market capitalization in just the past two days. According to an article in the Wall Street Journal, Apple owned 65% of the Chinese market for mobile phones priced over $600. China also accounted for 24% of all iPhone shipments in the second quarter, outpacing the U.S.’s 21%. The ban on state employees has potential to trickle down to Chinese citizens and could seriously threaten Apple’s biggest market.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.