The rare revenue warning from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing. “For a while now there’s been an adage in the markets that as long as Apple was doing fine, everyone else would be OK. Therefore, Apple’s rare profits warning is a red flag for market watchers,” noted Neil Wilson, chief market analyst at Markets.com. “A lot of this is Apple specific (…) But the warning also tells a lot about what is happening on in the broader global economy, specifically China. “Stock markets have been wildly volatile over the last few weeks with almost daily large swings on Wall Street,” said James Hughes, chief market analyst at Axitrader.

Source: The Guardian January 03, 2019 12:45 UTC