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Apple shares sink as China gamble backfires

Thursday, January 03, 2019 - 02:28

Apple shares tanked as much as 10 percent Thursday after it took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales on a lagging economy in China. But as Reuters' Cate Cadell explains, the cause may also be linked to Apple's own iPhone pricing strategy.

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Apple shares tanked as much as 10 percent Thursday after it took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales on a lagging economy in China. But as Reuters' Cate Cadell explains, the cause may also be linked to Apple's own iPhone pricing strategy.

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Apple shares sink as China gamble backfires

Thursday, January 03, 2019 - 02:28