Apple shares suffered another sharp sell-off on Monday after two of its suppliers cut their earnings forecasts, in moves that investors interpreted as another sign of softening iPhone demand. By lunchtime in New York, Apple shares were trading at about $196 (€174.40), compared with a peak in October of about $232 each. On Monday alone, Apple shed more than $40 billion (€35.5 billion) of market value. Apple shares have come under heavy selling pressure over the past two weeks as investors increasingly question the growth outlook for the world’s most valuable company. The smartphone market overall is suffering from softening demand from consumers in China, while Apple also pointed to weaker spending in India, Russia and Turkey.

Source: The Irish Times November 12, 2018 20:11 UTC