What's Behind Apple's Sales Slump And Dire China Warning?
January 9, 2019
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as posted by the channelApple remains one of the biggest and most powerful companies in the world, and iPhone sales are its most important metric. So when iPhone sales slump in China, it means billions of dollars lost. And it rattles markets across the world. These are the three big factors dragging down Apple in China.
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Apple's China warning is a 'canary in the coal mine,' says expert Stephen Roach
Stephanie Landsman | @stephlandsman
Published 6 Hours Ago Updated 5 Hours Ago
CNBC.com
Apple’s earnings warning is likely ‘canary in the coal mine:’ Stephen Roach Apple’s earnings warning is likely ‘canary in the coal mine:’ Stephen Roach
23 Hours Ago | 01:16
Earnings season may deliver a wake-up call to Wall Street.
Stephen Roach, one of Wall Street's leading authorities on Asia, believes multinational corporations are largely underestimating the impact of the U.S.-China trade war on their bottom lines.
According to Roach, the first indication came last week when Apple announced that China is taking a bite out of profits.
"Apple is probably the canary in the coal mine," the Yale University senior fellow said Monday on CNBC's "Trading Nation." "There's likely to be more to come."
Roach, who was Morgan Stanley Asia chairman for five years, sees the trade conflict with China as the biggest threat to the U.S. economy and markets. If a solution isn't achieved soon, Roach predicts more problems ahead.
"To think that what affects the Chinese has no bearing whatsoever on an otherwise resilient U.S. economy I think, is ludicrous," he said. "This is a two-way relationship. The U.S. depends heavily on China. It's our third largest and most rapidly growing export market over the last 10 years."
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What's Behind Apple's Slump And Dire Warning About China
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