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  • China Blamed for AAPL Selloff Today

    Shares of Apple are on the receiving end of a brutal Wall Street beat-down today.

    AAPL, which is down nearly $15 on the day as of this writing, is seeing a negative reaction to a string of unfavorable reports, the most damaging of which pertains to China.

    Following a string of analyst predictions and sales projections over the last two weeks, investors are eagerly anticipating the launch of Apple's iPhone on China Mobile, the world's largest mobile carrier. But today's report indicates that a launch isn't imminent. In fact, the sources claim that Apple is merely still in talks with China Mobile about a deal.

    Xi Guohua, the chairman of China Mobile, said Wednesday that his company had no announcement to make on any deal to carry Apple’s smartphones. Mr. Xi was speaking to reporters on the sidelines of a conference in Guangzhou, a city in southern China.
    Given that a China Mobile deal could be worth billions for Apple, any delay in getting the iPhone introduced to China Mobile subscribers is clearly and understandably going to be negatively digested by Wall Street.

    Source: NYT
    This article was originally published in forum thread: China Blamed for AAPL Selloff Today started by Michael Essany View original post
    Comments 7 Comments
    1. *T*'s Avatar
      *T* -
      Brutal? Really?
    1. dsg's Avatar
      dsg -
      is this a bit premature? seen as trading isn't finished
    1. Rcworship's Avatar
      Rcworship -
      Quote Originally Posted by dsg View Post
      is this a bit premature? seen as trading isn't finished
      While still speculative, what are the odds shares will climb back up another mountain of $15 to break even?
    1. dsg's Avatar
      dsg -
      you tell me
    1. Simon's Avatar
      Simon -
      Looks like it ended at -$4.22
    1. dsg's Avatar
      dsg -
      it did well, to recover that
    1. RICO_'s Avatar
      RICO_ -
      China is to blame? Sounds to me like BOTH of them are to blame considering that it takes TWO sides to reach an agreement. And since I've heard nothing that would suggest China is 100% at fault, one would think that they are not solely to blame and in fact Apple could be partially blamed for its own sell-off depending on what is going on with the "talks".