Apple Stocks Down 10%

After a day and a half of turmoil, Apple stocks close on Thursday almost 10% lower.

Apple CEO Tim Cook blamed the plummeting stocks on flagging sales in China, one of its largest Markets. On Wednesday, the company also said that they expected $5 billion less in revenue than they had originally projected.

Their original forecast had included at least $89 billion in revenue, and its dip into $84 billion was peculiar, since the holiday season is usually the most productive for Apple.

Apple, which had made headlines months ago because they had become the US’s biggest company and had reached the heights of $1.1 trillion, as well as becoming the first company to exceed $1 trillion in worth, is now worth less than Amazon and Microsoft, it’s biggest competitor.

In a letter to all of Apple’s investors, Cook explained that the company had trouble in Greater China, where Hong Kong and Taiwan are situated, and where a fifth of Apple’s revenue comes from.

Some experts have pointed at evidence of Huawei and other major Chinese electronics companies gaining popularity to explain Apple’s shortcomings in China.

Others blame the US-China trade war.

Of course, many will watch the stock market on Friday for signs of either upturn or another dive.

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