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  • China to Blame for AAPL Sell Off Today?

    It wasn't a pretty day for Apple on Wall Street.

    And all eyes are on China for the reason why shares tumbled a precipitous 5%. In short, reports out of the far east indicate that the Chinese government is "further devaluing the yuan."

    The impact for Apple? The currency devaluation in question will all but certainly spike important costs of Apple products.

    "The announcement from Chinaís central bank that official guidance for the yuan would be reduced 2 percent to 6.2298 yuan per dollar, its lowest point in three years, sent the $700 billion tech giantís shares tumbling," TechCrunch reports.

    If you're not keeping score at home, that decline is tantamount to a drop worth "tens of billions in market cap value."

    Source: TechCrunchApple Shares Tumble 5% Amid China Concerns | TechCrunch
    This article was originally published in forum thread: China to Blame for AAPL Sell Off Today? started by Michael Essany View original post
    Comments 1 Comment
    1. Carvensno's Avatar
      Carvensno -
      Uhhh.....??? The stock market in general took a big crap today if you didn't notice not just Apple lol. Now if it was Apple that only suffered? Then this article might be worth something.