Apple’s iPhones, with their touch screen technology, have been popular in China, but users have been looking at similar home-grown products JOHANNES EISELE/AFP/GETTYA warning from Apple about an iPhone sales slump in China sent shockwaves through world markets today as concerns grew about the state of the global economy. Technology shares dragged Asian markets down overnight and European markets fell later, with Britain’s FTSE 100 closing down 41.47 points, or 0.62 per cent, at 6,692.66. All three main Wall Street indices were deep in the red at lunchtime. Apple shares fell by $14.54, or 9.2 per cent, to $143.38 after analysts issued a host of downgrades to the company’s stock. This meant that the company, which makes iPhones, iPads, Mac computers and other gadgets and software, had slipped to become the fourth largest public company in the US, with a market capitalisation of $680 billion.

Source: The Times January 03, 2019 17:03 UTC