Within the start of 2019, the trade war between China-US spread a shiver among stock traders as the market deep-dived heavily in the red on Thursday. The leading company – Apple took a quick but steep path from $157.00 to $142.00 counting almost 10.0% losses.
“If you look at our results, our shortfall is over 100% from iPhone, and it’s primarily in greater China. So, as we look at what’s going on in China, it’s clear that the economy began to slow there for the second half. And what I believe to be the case is that the trade tensions between the United States and China put additional pressure on their economy. And so we saw, as the quarter went on, things like traffic in our retail store, traffic in our channel traffic stores, the reports of the smartphone industry contracting, particularly bad in November. I haven’t seen the December number yet. But I would guess that that would not be good either.” – Tim Cook Apple CEO for CNBC.